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Business, 28.10.2020 17:00 yeeyee69

Sage, Inc. began work on a $7,099,000 contract in 2020 to construct an office building. Sage uses the completed-contract method. At December 31, 2020, the balances in certain accounts were Construction in Process $1,846,000, Accounts Receivable $262,000, and Billings on Construction in Process $900,000. Indicate how these accounts would be reported in Sage’s December 31, 2020, balance sheet.

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Sage, Inc. began work on a $7,099,000 contract in 2020 to construct an office building. Sage uses th...
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