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Accounting

Question 2 of 4
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During 2023, Sunland Corporation started a construction job with a contract price of $3.50 million. Sunland ran into severe technical difficulties during construction but managed to complete the job in 2025. The contract is non-cancellable. Under the terms of the contract, Sunland sends billings as revenues are earned. Billings are non-refundable. The following information is available:
\table[[,2023,2024,2025],[Costs incurred to date,$500,000,$1,750,000,$3,400,000
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