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Splish Construction Company uses the percentage - of - completion method of accounting. In 2 0 2 2 , Splish began work under contract #E

Splish Construction Company uses the percentage-of-completion method of accounting. In 2022, Splish began work under contract #E2-D2, which provided for a contract price of $2,224,000. Other details follow:
\table[[,2022,2023],[Costs incurred during the year,$644,800,$1,417,000
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