Question: Kingbird, Inc. began work on a $ 6 , 8 1 8 , 0 0 0 contract in 2 0 2 2 to construct an

Kingbird, Inc. began work on a $6,818,000 contract in 2022 to construct an office building. Kingbird uses the cost-recovery method. At December 31,2022, the balances in certain accounts were Construction in Process $1,686,000, Accounts Receivable $222,000, and Billings on Construction in Process $1,034,000.
Indicate how these accounts would be reported in Kingbird's December 31,2022, statement of financial position. (List assets in reverse order of liquidity.)
Current Assets
Accounts Receivable
Accounts Receivable
$
$
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Kingbird, Inc. began work on a $ 6 , 8 1 8 , 0 0

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