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USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT ( 3) QUESTIONS: At the beginning of 2023, Denver Inc enters into a contract to build an
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT ( 3) QUESTIONS: At the beginning of 2023, Denver Inc enters into a contract to build an office building for a customer for $3,000,000. The project is estimated to take three years to complete, and Denver will bill the buyer in installments over the construction period. The project is completed in December of 2025, and the table below summarizes the project activity over the three-year construction period. The contract qualifies for revenue recognition over time using percentage of completion. Determine the percentage complete tor this project as ot December 31st tor the years 2023, and 2024. Determine the percentage complete for this project as of December 31st for the years 2023, and 2024. *When recording your answer, round (if necessary) to the nearest whole number. Example: if you determine the project is 32.3% complete at the end of 2023 , enter your answer as 32. Do not use decimals in recording your answer...only use whole numbers. Do not include \% sign in recording your answer. Determine the amount of Revenue to be reported in 2023,2024 and 2025. *When recording your answer, do not use dollar signs. Example: if your answer is $1,000,000 of revenue recognized in 2023, enter your answer as 1000000 or 1,000,000. Motormino tho andins halanroc for ash of tho fallnsing arrounte ac of
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