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AAA has a contract to build a building for $ 100,000 with an estimated time to completion of three years. A reliable cost estimate for the project is $ 60,000. In the first year of the project, AAA incurred costs totaling $ 24,000. How much profi t should AAA report at the end of the fi rst year under the percentage-of-completion method?
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AAA has a contract to build a building for $ 100,000 with an estimated time to completion of three y...
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