(Answered) Question in 2016 ccc began work on a two-year fixed price

Accounting

Question: In 2016, CCC began work on a two-year fixed price contract project. CCC recognizes revenue over time according to percentage of completion for this contract, and provides the following information (dollars in millions): AR, 12/31/16 (from const progress billings): $37.5 Actual const costs incurred in 2016: $135 Cash Collected on project during 2016: $105 Construction in progress, 12/31/16: $207 Est. percentage of completion during 2016: 60%. How much cash remains to be collected by CCC on the project?

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