31. Hamlin, Hamlin & McGill enters into a contract with a cu…
31. Hamlin, Hamlin & McGill enters into a contract with a customer to complete a parking lot for $459,000 on April 30, 2026 with a performance bonus of $24,000 if the building is completed by July 31, 2026. The bonus is reduced by $4,800 each week that completion is delayed. Sunland commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability July 31, 2026 55% August 7, 2026 35% August 14, 2026 5% August 21, 2026 5% The transaction price is: