Business
Business, 03.12.2019 02:31, priscymtz27

Monroe construction company uses the percentage-of-completion method of accounting. in 2013, monroe began work on a contract it had received which provided for a contract price of $20,000,000. other details follow: 2013 costs incurred during the year $9,600,000 estimated costs to complete as of december 31 $6,400,000 billings during the year $8,800,000 collections during the year $5,200,000 what should be the gross profit recognized in 2013?

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