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How much gross profit is to be recognized

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Problem - The following data relates to a construction job started by Esther Inc; Total contract price - 1,000,000 Actual cost incurred in 2011 - 200,000 Estimated remaining costs - 400,000 Billings to customer in 2011 - 300,000 Collections from customers in 2011 - 100,000 How much gross profit is to be recognized?

Reference no: EM132875965

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