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- .exto.meducation.comTextmainder.htmi.cocongternal browser.CUMP2 Hello Save & Edt Submit Sand Proctoring Enabled Test 2 8 Indiana Co began a construction project in 2021 with a contract price of $163 million to be received when the project is completed in 2023. During 2021 Indiana incurred $35 million of costs and estimates an additional $20 million of costs to complete the project Indian recognizes revenue over time and for this project recognizes revenge over time according to the percentage of the project that has been completed Indiana 6 Multiple Choice Book Recognized no gross profit or loss on the project in 2020 Recognized $1461 milion gross groft on the project 2021 Recognized $36.00 millions on the project is 2021 Recogntre 100 millions on the croject in 2021 9 False Value Hardware began 2021 with a credit balance of 532.500 in the refund liability account. Soles and cash collections from customers during the yoor were $700,000 and $660,000, respectively. False Value estimates that of all sales will be returned. During 2021, customers returned merchandise for credit of $23.000 to their accounts What is the balance in the retund lobility account at the end of 20211 Marie Choice $9.500 $42.000 $51.500 $65,000