Refer to Practice 8-17. Assume that the company uses the percentage of trail feet constructed in estimating

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Refer to Practice 8-17. Assume that the company uses the percentage of trail feet constructed in estimating the percentage of completion. Make the journal entries to record revenue and cost for the construction project in

(1) Year 1,

(2) Year 2, and

(3) Year 3.

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Question Posted: Jan 28, 2012 06:09 AM

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Refer to Practice 8-17. Assume that the company uses the percentage of trail feet constructed in estimating

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1 Percentage of completion 98009800 20300 325581 Cumulative revenue to be recognized 1800000 0325581 ...View the full answer

Intermediate Accounting

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