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Business, 11.02.2020 22:21 Emptypockets451

During 2017, Martinez Company started a construction job with a contract price of $1,580,000. The job was completed in 2019. The following information is available. 2017 2018 2019Costs incurred to date $404,000 $853,160 $1,073,000Estimated costs to complete 606,000 254,840 –0–Billings to date 301,000 904,000 1,580,000Collections to date 271,000 812,000 1,418,000Complete a chart analyzing the above information showing revenue, the % of completion every year and the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

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During 2017, Martinez Company started a construction job with a contract price of $1,580,000. The jo...
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