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Sandlewood Construction Incorporated recognizes revenue over time according to percentage of completion for its long-term construction contracts. In 2024, Sandlewood began work on a $10,000,000

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Sandlewood Construction Incorporated recognizes revenue over time according to percentage of completion for its long-term construction contracts. In 2024, Sandlewood began work on a $10,000,000 construction contract, which was completed in 2025. The accounting records diselosed the following data at the end of 2024 : How much gross profit should Sandlewood have recognized in 2024

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