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  3. -13 on february 1,2023, ivanhoe contractors agree

-13 On February 1,2023, Ivanhoe Contractors agreed to construct a building at a contract...

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Accounting

-13
On February 1,2023, Ivanhoe Contractors agreed to construct a building at a contract price of $5,730,000. Ivanhoe estimated total construction costs would be $3,944,000 and the project would be finished in 2025. Information relating to the costs and billings for this contract is as follows:
\table[[,2023,2024,2025],[Total costs incurred to date,$1,479,000,$2,598,000,$4,565,000
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