Wind lap - Cengag M New-Hit Com Help Save & Ext Arizona Desert Homes (ADH) constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co. Relevant data are summarized below: Contract amount Cost: Gross profit: 2020 2021 2020 2021 2020 2021 $3,000,000 1,200,000 600,000 800,000 400,000 1,500,000 1,500,000 Contract bindings: ADH recognizes revenue over time with respect to these contracts. For 2021, what is the journal entry to record revenue? Multiple Choice 1,500,000 Accounts receivable Revenue from long-term contracts 1,500,000 Artan Desert Homes (ADH) Constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co. Relevant data are summarized below: Contract amount Cost: Gross profit: 2020 2021 2020 2021 2020 2021 $3,000,000 1,200,000 600,000 800,000 400,000 1,500,000 1,500,000 Contract bindinger ADH recognizes revenue over time with respect to these contracts. Fot 2021, what is the journal entry to record revenue? Multiple Choice Accounts receivable Revenue from long-term contracts 1.500.000 1.500.000 MacBook Air BO DO A # 3 $ 4 2 & 7 * 00 5 6 9 0 W E R T Y U I O S D F G H J J K L