A contractor enters into a revenue contract with a customer to build customized equipment for $160,000 with a performance bonus of $88,000 that will be paid based on how quickly the equipment is completed. The amount of the performance bonus decreases by 15% of the original bonus per week for every week beyond the agreed upon completion date. The contractor

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Intermediate Accounting

16th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

ISBN: 978-1118742976