Question: Crane Construction Inc., which has a calendar year end, has entered into a non - cancellable fixed - price contract for $ 2 . 9

Crane Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed-price contract for $2.9 million
beginning September 1,2023, to build a road for a municipality. It has been estimated that the road construction will be complete by
June 2025. The following data pertain to the construction period.
Caculate the balance in contract asset/liability acoount on december 312023,2024
Crane Construction Inc., which has a calendar year end, has entered

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