Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below:

Contract amount $ 3,000,000
Cost: 2017 1,200,000
2018 600,000
Gross profit: 2017 800,000
2018 400,000
Contract billings: 2017 1,500,000
2018 1,500,000

ADH recognizes revenue upon completion of the contract.

What is the journal entry in 2018 to record revenue?

(A)

Cost of construction 2,000,000
Gross profit 1,000,000
Revenue from long-term contracts 3,000,000
(B)

Construction in progress 1,200,000
Cost of construction 1,800,000
Revenue from long-term contracts
3,000,000

(C)

Construction in progress 400,000
Cost of construction 600,000
Revenue from long-term contracts 1,000,000
(D)

Accounts receivable 1,500,000
Revenue from long-term contracts 1,500,000

According to this excerpt, a key part of our national security strategy is

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.

Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock