Business, 13.12.2019 02:31 mccdp55

Archer construction company began work on a $420,000 construction contract in 2017. during 2017, archer incurred costs of $278,000, billed its customer for $215,000, and collected $175,000. at december 31, 2017, the estimated additional costs to complete the project total $162,000. prepare archer's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completed-contract method

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Archer construction company began work on a $420,000 construction contract in 2017. during 2017, arc...

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