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Business, 25.05.2021 20:30 imsmart916

At the beginning of 2009, 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 2009 is available for the contract: Total revenue according to contract $10,000,000 Total expected cost $ 8,000,000 Cost incurred during 2009 $ 1,200,000 Assume that the company estimates percentage complete based on costs incurred as a percentage of total estimated costs. Under the percentage completed method, how much revenue will be reported in 2009

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