Revenue Recognition Sierra Logging Company hired Reid Construction Company to build a new bridge across the Brown Trout bridge extend a logging road into a new stand of timber. The contract called for a payment of 12million on completion of the bridge. Work was begun in 20X0and completed in Total costs were as follow: Suppose the account for Raid Construction judged that Sierra Logging might not be able to play the $12million How much revenue would you recognize each year under current revenue-recognition standard? Suppose Sierra Logging subsidiary wood products of a major wood product company, therefore, receipt of payment on the contract is reasonably certain. How much revenue would you recognize each year current revenue-recognition standards