Tullis Cocstruction enters into a long - ferm foxed price contract to build an offoe tower for $10,900,000, In the first year of the oontract Tulis incurs $3,000,000 of eosit and the engineers determined that the remairing costs to complete the project are $5,000.000. Tutis billed $5,000,000 in year 1 and collected $3,400,000 by the end of the year. How muth should Tulis repod as Accovits Receivable at the end of year 1 on the balance cheet assuming the use of the completed - contract method? A. 35.000,000 8. 50 c. 58,400,000 b. 51.000 .000 Jones Corporation entrers into a contract with Warner Video to ndd ther prograrns to Jones' network. Whrner will pay Jones an uptront foed fee of S2E0, oc0 for 12 month of aooess, and will atso pary a $120,000 bonus if Jones' users acoess Wamer Video for at least 10,000 hours during the 12 month period. Jones estirates that it hars a 60% chanoe of eaming the $120,000 bonus. Ignore any oonstraints on viriatle consideration. Refer to knes Corporation. Using the most - kikely- amount ipproach, the transaction prese would be A. 120,000 n. 1970,009 c sis0.000 D. 5130,000