The journal entry to record the completion of a contract in a job costing system for a service firm is

Name: The journal entry to record the completion of a contract in a job costing system for a service firm is
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Question

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The completion of a contract in a job costing system typically involves recognizing revenue and transferring costs from work-in-progress to cost of goods sold or a similar account, which is usually represented by option C.

The Journal Entry to Record the Completion of a Contract