Essay
On May 1, 20X7, Bridge Builder Entity (BBE) contracted with the Argentinean government for €150 million to build a suspension bridge over the Parana River. BBE's management estimates that it will take 60,000 man-hours to finish the bridge. At December 31, 20X7, BEE has expended 20,000 man-hours toward completion of the bridge. BEE estimates that 3/10ths of the kilometer-long bridge has been completed as of the reporting date. How much revenue should BEE recognize at December 31, 20X7 using the input method? How much using the output method?
Correct Answer:
Verified
Correct Answer:
Verified
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