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Compute the amount of gross profit recognized

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Alpha Great Construction was the best selection to build the Stoddard Temple for the amount of $2,500,000. The project broke ground in 2010 and was then completed in 2011. Below the cost and other data are shown below:

1806_68-B-A-G-F-A (1569).png

Alpha Great Construction is using the percentage of completion method to recognize revenue:

Compute the amount of gross profit recognized in 2010 and 2011 

Reference no: EM13993289

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