Parcell Company contracted on 4/1/07 to construct a building for $2,500,000. The project was completed in 2005. Additional data follow: 2007 2008 2009 Costs incurred to date $ 560,000 $1,350,000 $1,900,000 Estimated cost to complete 1,040,000 450,000 Billings to...

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List the accounts involved, whether they increased or decreased and how this transaction affected your company or personal financial statements.

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