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Howard Construction Co. contracted to build a bridge for $3,000,000. Construction began in 2012 and...

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Accounting

Howard Construction Co. contracted to build a bridge for $3,000,000. Construction began in 2012 and was completed in 2013. Data relating to the construction are:

2012 2013

Costs incurred

$990,000 $825,000

Estimated costs to complete 810,000

Howard uses the percentage-of-completion method.

(e) Show the balance sheet presentation for 2012.

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