Sandlewood Construction Inc. recognizes revenue over time according to percentage of completion for its long-term construction contracts. In 2018, Sandlewood began work on a $10,000,000 construction contract, which was completed in 2019. The accounting records disclosed the following data at the end of 2018:

Costs incurred	$	5,400,000
Estimated cost to complete		3,600,000
Progress billings		4,100,000
Cash collections		3,200,000

In addition to accounts receivable, what would appear in the 2018 balance sheet related to the construction accounts?

Multiple Choice

A current asset of $1,300,000

A current liability of $900,000

A current asset of $900,000

A current asset of $1,900,000