Business, 20.03.2020 07:17, any335

For the next five questions (questions 36-40), consider the following information: Accounts receivable, 12/31/2018 (from construction progress billings) $37.5 Actual construction costs incurred in 2018 $135 Cash collected on project during 2018 $105 Construction in progress, 12/31/2018 $207 Estimated percentage of completion during 2018 60% In 2018, Cupid Construction Co. (CCC) began work on a two-year fixed price contract project. CCC recognizes revenue over time according to percentage of completion for this contract, and provides the following information (dollars in millions):What is the amount of gross profit on the project recognized by CCC during 2018?

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For the next five questions (questions 36-40), consider the following information: Accounts receivab...