The Quinlan Construction Company Began Work On A Three Year Contract In 2015 In

The Quinlan Construction Company began work on a three-year contract in 2015. In 2015, Costs plus Gross Profit recognized were $15, Billings were $20, Collections were $18. In what section would the CIP account appear in the financial statements?

Select one:

a. Current Assets

b. Current Liabilities

c. Noncurrent Assets

d. Noncurrent Liabilities

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