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Business, 19.03.2021 04:10 Baby010391

As of December 31, 2021, Cady Construction has one construction job for which the construction in progress (CIP) account has a balance of $41,000 and the billings on construction contract account has a balance of $18,000. Cady has another construction job for which the construction in progress account has a balance of $12,000 and the billings on construction contract account has a balance of $17,000. Indicate the amount of contract asset and/or contract liability that Cady would show in its December 31, 2021, balance sheet.

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As of December 31, 2021, Cady Construction has one construction job for which the construction in pr...
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