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Sandlewood Construction Incorporated recognizes revenue over time according to percentage of completion for its long-term construction contracts. In 2024, Sandlewood began work on a $10,000,000 construction contract, which was completed in 2025. The accounting records disclosed the following data at the end of 2024:
Costs incurred$ 5,400,000Estimated cost to complete3,600,000Progress billings4,100,000Cash collections3,200,000
In addition to accounts receivable, what would appear in the 2024 balance sheet related to the construction accounts?

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