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*P17.9(LO 55, Excel (Recognition of Profit on Long-Term Contract) Shanahan Construction Company has...

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Accounting

*P17.9(LO 55, Excel (Recognition of Profit on Long-Term Contract)
Shanahan Construction Company has entered into a contract beginning January 1,
2025, to build a parking complex. It has been estimated that the complex will cost
$600,000 and will take 3 years to construct. The complex will be billed to the
purchasing company at $900,000. The following data pertain to the construction
period.
INSTRUCTIONS:
1- Using the percentage-of-completion method, compute the estimat
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