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Blossom Construction Company had a contract starting April 2018, to construct a $23800000 building that is expected to be completed in September...

Blossom Construction Company had a contract starting April 2018, to construct a $23800000 building that is expected to be completed in September 2020, at an estimated cost of $21800000. At the end of 2018, the costs to date were $9592000 and the estimated total costs to complete had not changed. The progress billings during 2018 were $460000 and the cash collected during 2018 was 3180000. Blossom uses the percentage-of-completion method.


At December 31, 2018 Blossom would report Construction in Process in the amount of:





$9132000.


$880000.


$10472000.


$9592000.

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Total Contract Price 23800000 Total estimated costs... View the full answer

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