You have a contract for $200,000. The following events occur: March 1 the project starts March 20 The subcontractors bill for $80,000 to the contractor Between March 1 and March 31 45% of the contract was completed April 10 The subcontractor was paid $80,000 April 20 The subcontractors billed $100,000 to the contractor Between April 1 and April 30 55% of the contract was completed April 30 the project ends and the contractor billed the owner in full. May 10 The contractor paid $100,000 to the sub-contractors. May 20 the owner paid the contractor $200,000 Determine when revenues and expenses are recognized on the Percent Completion method? Fill in the relevant financial activities in the below.

March April May

Revenues

Expenses