The board of director of Pharoah Construction Coming to choose bere the complete-contracte de percentage of completion method of accounting for ong term contracts in the compananal statement vous dem aped in assist Pharah's controle in the preparation of a presentation to begiven the board meeting the controler provine you with the following information 1 Pharoah commented doing business on January 1, 2021 2 Construction activities for the year ended December 31, 2021.reasons Project Total Contrad Price Billing Through 12/31/21 Cash Collections Through 12/31/21 Contract Costs Incurred Through 12/31/21 Estimated Additional Costs Complete Contracts A 5 514000 5354.000 $324.000 $ 435.000 $115000 E 734.000 224000 224.000 216.000 504000 S 482.000 489.000 104.000 364.000 0 D 207.000 114.000 72.000 137 000 indicate the balances that would appear in the balance sheet at December 31, 2021 for the following accounts for Project D fourth project assuming that the percentage of completion method is used 11 LOG E 464 0 414000 434000 334,000 53,500 $2.401.000 SL55.000 $1435.000 $1.489.000 Accounts Receivable 5013,500 5 Each contracts with a different temen Bilingon Construction in Process Any work remaining to be done the contractare 2017 $ Construction in Process 5 Comote the went of income and for the ended December 11 2011. which would be reported under 11 The completed-contracted How would the balance in the accounts discussed in parte changes for project fourth project if the completed conte methods The percentage ocion method donated til $ the completed contact method is used the balances Prato try to protec2001, were forced Acum Explanation Del Credit hamar.2001 terbro