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Use the Following Information for Questions 83 and 84

question 121

Multiple Choice

Use the following information for questions 83 and 84.
Eilert Construction Company had a contract starting April 2015, to construct a $21,000,000 building that is expected to be completed in September 2016, at an estimated cost of $19,250,000. At the end of 2015, the costs to date were $8,855,000 and the estimated total costs to complete had not changed. The progress billings during 2015 were $4,200,000 and the cash collected during 2015 was $2,800,000. Eilert uses the percentage-of-completion method.
-At December 31, 2015, Eilert would report Construction in Process in the amount of

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