Question: Ivanhoe, Inc. began work on a $ 7 , 3 3 8 , 0 0 0 contract in 2 0 2 5 to construct an

Ivanhoe, Inc. began work on a $7,338,000 contract in 2025 to construct an office building. Ivanhoe uses the cost-recovery method. At December 31,2025, the balances in certain accounts were Construction in Process $1,867,000, Accounts Receivable $232,000, and Billings on Construction in Process $1,021,000.
Indicate how these accounts would be reported in Ivanhoe's December 31,2025, balance sheet. (List assets in order of liquidity.)
Ivanhoe, Inc. began work on a $7,338,000 contract in 2025 to

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