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Business, 22.10.2021 23:00 Kemosdasavage

g Arizona Desert Homes (ADH) constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co. Relevant data are summarized below: Contract amount $ 3,180,000 Cost: 2020 1,240,000 2021 640,000 Gross profit: 2020 860,000 2021 440,000 Contract billings: 2020 1,590,000 2021 1,590,000 ADH recognizes revenue upon completion of the contract. What is the journal entry in 2021 to record revenue

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