please help Thank you hamrock Construction Company uses...
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hamrock Construction Company uses the percentage-of-completion method of accounting. In 2020 . Shamrock began work under ontract \#E2-D2, which provided for a contract price of $2,183,000. Other details follow: (a) Your answer is correct. What portion of the total contract price would be recognized as revenue in 2020?ln2021 ? Revenue recognized in 2020 Revenue recognized in 2021 What portion of the total contract price would be recognized as revenue in 2020 ? In 2021 ? Revenue recognized in 2020 Revenue recognized in 2021 eTextbook and Media List of Accounts Attempts: 3 of 10 u (b) Your answer is correct. Assuming the same facts as those above except that Shamrock uses the completed-contract method of accounting what portion of the total contract price would be recognized as revenue in 2021 ? Revenue recognized in 2021 Prepare a complete set of journal entries for 2020 (using the percentage-of-completion method). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles enter 0 for the amounts. For costs incurred use account Materials, Cash, Payables.)
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