Spilker Construction Company had a contract starting April 2023, to construct a $34,500,000 building that is expected to be completed in September 2025, at an estimated cost of $28,570,000. At the end of 2023, the costs to date were $9,250,000 and the estimated total costs to complete had not changed. The progress billings during 2023 were $8,505,000 and the cash collected during 2023 was 4,500,000. The company uses the percentage-of-completion method.

At December 31, 2023 Spilker would report Revenue from Long-Term Contracts in the amount of:

Question 25 options:

a)	$11,169,933

b)	$9,250,000

c)	$1,919,933

d)	$5,930,000