Refer to Camey Construction.How should Camey report Construction in Progress and Billings on Construction in Progress at the end of year 1 on the balance sheet assuming the use of the percentage-of-completion method?
A)asset of $0
B)liability of $120,000
C)asset of $1,500,000
D)liability of $2,000,000

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The Answer of Refer to Camey Construction.How should Camey report Construction in Progress and Billings on Construction in Progress at the end of year 1 on the balance sheet assuming the use of the percentage-of-completion method?
A)asset of $0
B)liability of $120,000
C)asset of $1,500,000
D)liability of $2,000,000