Homework answers / question archive / Consider the following information: Accounts receivable, 12/31/2018 (from construction progress billings)$37

Consider the following information: Accounts receivable, 12/31/2018 (from construction progress billings)$37

Accounting

Share With

Consider the following information:

Accounts receivable, 12/31/2018 (from construction progress billings)$37.5Actual construction costs incurred in 2018$135Cash collected on project during 2018$105Construction in progress, 12/31/2018 $207Estimated percentage of completion during 2018 60%

How much cash remains to be collected by CCC on the project?

a.$240 million

b.Cannot be determined from the given information.

c.$202.5 million

d.$70 million