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What was the amount of collection

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Question - What was the amount of collection in 2009? The Skyline Corporation began constructing a building with a contract price of P 43,800,000 in 2009. The ledgers of Skyline for 2010 shows the following accounts: Construction in Progress P 10,400,000 Accounts Receivable 3,200,000 Gross Profit earned 3,952,000 Progress billings to date 6,500,000. Solve the following problem in good accounting form.

Reference no: EM133042430

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