(Answered) Question given the information in question 4 above on its

Accounting

Question: Given the information in question 4 above, on its statement of financial position at December 31, 2014, what amount is reported in the cost of construction and billings presentation by Swallow?

(a) $40,000 costs in excess of billings.

(b) $1,020,000 costs in excess of billings.

(d) $20,000 billings in excess of costs.

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