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Business, 12.02.2021 06:20 mustafakhalil02

g At the beginning of 2020, Florida Road Construction entered into a contract to build a road for the government. Construction will take four years. The following information as of 31 December 2020 is available for the contract: Total revenue according to contract $10 million Total expected cost $8 million Cost incurred during 2019 $1.2 million Assume that the company estimates percentage complete based on costs incurred as a percentage of total estimated costs. Under the percentage of completion method, how much revenue will be reported in 2020

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