Cosmo Computer Consultants (CCC) signed a cootract in 2022 to develop a computor network system...
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Cosmo Computer Consultants (CCC) signed a cootract in 2022 to develop a computor network system for Platenum Eithertarment Cosma uses the percontage if coempletien melhod and determanes its moasure of progress using the cost to-cost approach. The firm providod the following inloemation for 2022 (Click the icon to view the contract information) Compute the percentage completed, grass proft tecogncred, and the amount of the reveme tecorded in 2022 Contract price 2022$85,000 Actual construction costs incurred during the year Estimated total costs $12,000 Progress billings made during the year Cash collections during the year $$$60,00030,50025,000
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