Blossom, Inc. began work on a $ contract in to contruct an office building. During Blossom, Inc incurred cost of $ billed its customer for $ and collected $ At December the estimated additional cost to the complete project total is $ Prepare Blossom's journal entries using the percentageofcompletion method. Blossom, Inc. began work on a $ contract in to construct an office building. During Blossom, Inc. incurred costs
of $ billed its customers for $ and collected $ At December the estimated additional costs to
complete the project total $
Prepare Blossom's journal entries using the percentageofcompletion method. Credit account titles are automatically indented
when amount is entered. Do not indent manually. For costs incurred use account Materials, Cash, Payables. If no entry is required, select No
entry" for the account titles and enter for the amounts. List all debit entries before credit entries.
Account Titles and Explanation
To record costs incurred.
To record billings.
To record collections.
To recognize revenue.
