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*P17.9(LO5,?6??) Excel (Recognition of Profit on Long-Term Contract) Shanahan Construction Company has entered...

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Accounting

*P17.9(LO5,?6??) Excel (Recognition of Profit on Long-Term Contract)
Shanahan Construction Company has entered into a contract beginning January 1,2025, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $900,000. The following data pertain to the construction period.
\table[[,2025,2026,2027],[Costs to date,$270,000,$450,000,$610,000
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