Answer:
$900,000
Explanation:
The computation of the total amount excluding cash is shown below:
But before that following calculations need to be done
% completion during the year is 
= $3,000,000 ÷ ($3,000,000 + $6,000,000) 
= 33.3333%
Now Total revenue to be recognized for the year is 
= $12,000,000 × 33.33333% 
= $4,000,000
Profit for the year is 
= $4,000,000 - $3,000,000 
= $1,000,000
Now Accounts receivables at the end of year is 
= Billings - Collection 
= $3,500,000 - $3,100,000 = $400,000
Now Cost and profits in excess of billings 
= ($3,000,000 + $1,000,000) - $3,500,000
 = $500,000
And, finally Total amount of current assets to be recognize at year end is 
= $400,000 + $500,000 
= $900,000