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D. 69000 RE2 Inc. entered into a contract to install a pipeline for a...

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Accounting

imageD. 69000

RE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,485,000. JRE2 recognizes revenue upon contract completion Estimated Cost to Complete $1,740,000 2017 2018 2019 Cost incurred $288,000 1,790,000 640,000 709,000 In 2019, JRE2 would report gross profit (loss) of: Multiple Choice $23,000 $(233,000) $36,000

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