Business, 15.07.2020 03:01, sarah19Nursing

Blue Construction Company began work on a $925,000 construction contract in 2017. During 2017, Blue incurred costs of $342,000, billed its customer for $263,000, and collected $183,000. At December 31, 2017, the estimated future costs to complete the project total $634,000. Prepare Archer’s journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completed-contract method

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Blue Construction Company began work on a $925,000 construction contract in 2017. During 2017, Blue...