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JRE2 Inc. entered into a contract to install a pipeline for a fixed price of...

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Accounting

JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000.
JRE2 recognizes revenue upon contract completion.
In 2021, JRE2 would report gross profit (loss) of:
A) $(223,000).
B) $(150,000).
C) $(206,000).
D) $0.
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