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Question 5 - assume the job was sold for a fixed price of $100,000 1. Provide all entries for the three years 2. Suppose in
Question 5 - assume the job was sold for a fixed price of $100,000 1. Provide all entries for the three years 2. Suppose in year 2 the estimated cost to complete is $50,000. Compute the revenues and gross profit reported in year 2. 3. Suppose in year 2 the estimated cost to complete is $70,000. Compute the revenues and gross profit reported in year 2
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