Question: Basic Construction Journal Entries Refer to Practice 8-7. In addition to the percentage-of-completion information, the following information is available regarding billing and cash collection for

Basic Construction Journal Entries Refer to Practice 8-7. In addition to the percentage-of-completion information, the following information is available regarding billing and cash collection for the project: Make the journal entries necessary to record the construction cost, the progress billings, and the cash collections in (1) Year 1, (2) Year 2, and (3) Year 3

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