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Whispering Construction Company uses the percentage-of-completion method of accounting. In 2020, Whispering began work under...

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Accounting

Whispering Construction Company uses the percentage-of-completion method of accounting. In 2020, Whispering began work under
contract with a contract price of $1,520,000. Other details follow:
(a)
What portion of the total contract price would be recognized as revenue in 2020? In 2021?
Revenue recognized in 2020$
Revenue recognized in 2021$
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