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Blossom, Inc. began work on a $7,481,000 contract in 2025 to construct an office building....

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Accounting

Blossom, Inc. began work on a $7,481,000 contract in 2025 to construct an office building. Blossom uses the cost-recovery method. At
December 31,2025, the balances in certain accounts were Construction in Process $1,805,000, Accounts Receivable $242,000, and
Billings on Construction in Process $1,088,000.
Indicate how these accounts would be reported in Blossom's December 31,2025, balance sheet. (List assets in order of liquidity.)
BLOSSOM, INC.
Balance Sheet
December 31,2025
Current Assets
Accounts Receivable
Construction in Process
Construction in Process
Billings on Construction in Process
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