Essay
Contract-based approach In January 2014, McKay Construction Corp.contracted to construct a building for $6,000,000. Construction started in early 2014 and was completed in 2015.The following additional information is available: 
McKay uses the percentage-of-completion method. Instructions Under the contract-based approach,
a)How much revenue should McKay report for 2014 and 2015?
b)Prepare all journal entries for 2014 and 2015 for this contract.
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Correct Answer:
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Revenue...
View Answer
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