Question: Using the information provided in BE6-21, assume instead that ABC uses the completed-contract method and the earnings approach. Prepare a schedule to calculate the amount

Using the information provided in BE6-21, assume instead that ABC uses the completed-contract method and the earnings approach. Prepare a schedule to calculate the amount of revenues and gross profit or loss to be recognized by ABC Corp. during the three years of the contract and provide the journal entry for 2015.

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