On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,540,000. During 2021, costs of $2,180,000 were incurred with estimated costs of $4,180,000 yet to be incurred. Billings of $2,680,000 were sent, and cash collected was $2,430,000. In 2022, costs incurred were $2,680,000 with remaining costs estimated to be $3,870,000. 2022 billings were $2,930,000 and $2,655,000 cash was collected. The project was completed in 2023 after additional costs of $3,980,000 were incurred. The company’s fiscal year-end is December 31. Arrow recognizes revenue over time according to percentage of completion.

Required:

1. Compute the amount of revenue and gross profit or loss to be recognized in 2021, 2022, and 2023 using the percentage of completion method.

2a. Prepare journal entries for 2021 to record the transactions described (credit "various

answer: if you weigh 60 pounds on earth, on the moon you will weigh about 10 pounds. if you weigh 120 pounds on earth, you will weigh about 20 pounds on the moon. since weight is caused by the mass of two objects that are near each other, the bigger the objects, the more the force of gravity.

step-by-step explanation: if you weigh 60 pounds on earth, on the moon you will weigh about 10 pounds. if you weigh 120 pounds on earth, you will weigh about 20 pounds on the moon. since weight is caused by the mass of two objects that are near each other, the bigger the objects, the more the force of gravity.

the slope of the line is 60

one point on the line is (40,10)

step-by-step explanation:

in the equation outside the parenthesis the equation always tells you the slope. in this case it is 60.

in the parenthesis is also says 40 which is x because it is near the x and 10 is y because it is near y.

idk

step-by-step explanation: