Question: ~Journal Entry correct~ Archer Construction Company began work on a $420,000 construction contract in 2014. During 2014, Archer incurred costs of $278,000, billed its customer

~~~~~Journal Entry correct~~~~~ Archer Construction Company began work on a $420,000 construction contract in 2014. During 2014, Archer incurred costs of $278,000, billed its customer for $215,000, and collected $175,000. At December 31, 2014, the estimated future costs to complete the project total $162,000. I did the correct Journal Entry but the online submit system show two numbers are incorrect,please help me correct it! Dr:Construction Express 440000(incorrect) Cr:Construction in Process 20000 Revenue from Long-Term Contracts 420000(incorrect) Dr:Loss from Long-Term Contracts 20000 Cr:Construction in Process 20000

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Question: ~~~~~Journal Entry correct~~~~~ Archer Construction Company began work on a $420,000 construction contract in 2014. During 2014, Archer incurred costs of $278,000, billed its customer

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Question: ~Journal Entry correct~ Archer Construction Company began work on a $420,000 construction contract in 2014. During 2014, Archer incurred costs of $278,000, billed its customer