Question: Cullumber, Inc. began work on a $ 6 , 4 7 3 , 0 0 0 contract in 2 0 2 5 to construct an

Cullumber, Inc. began work on a $6,473,000 contract in 2025 to construct an office building. Cullumber uses the cost-recovery method. At December 31,2025, the balances in certain accounts were Construction in Process $1,839,000, Accounts Receivable $234,000, and Billings on Construction in Process $1,063,000.
Indicate how these accounts would be reported in Cullumbers December 31,2025, balance sheet. (List assets in order of liquidity.)

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