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The Markert Company won a contract to build a shopping center at a price of $ 3 0 0 million. The following schedule details the

The Markert Company won a contract to build a shopping center at a price of $300 million. The following schedule details the estimated and actual costs of construction and the actual cash collections under the contract:
Estimated (Actual) Costs
of Construction Cash Collections
From Customer Year 1 $40,000,000 $60,000,000 Year 260,000,00075,000,000 Year 370,000,00075,000,000 Year 430,000,00090,000,000 $200,000,000 $300,000,000

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