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What is the journal entry in 2021 to record revenue? Multiple Choice Cost of construction 1,800,000 Gross profit 840,000 Revenue from long-term contracts 2,640,000 Construction

What is the journal entry in 2021 to record revenue?

Multiple Choice

  • Cost of construction 1,800,000
    Gross profit 840,000
    Revenue from long-term contracts 2,640,000
  • Construction in progress 320,000
    Cost of construction 520,000
    Revenue from long-term contracts 840,000
  • Construction in progress 1,000,000
    Cost of construction 1,640,000
    Revenue from long-term contracts 2,640,000
  • Accounts receivable 1,320,000
    Revenue from long-term contracts 1,320,000

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