/ 25 View Policies Current Attempt in Progress During 2020. Wildhorse Company started a construction job with a contract price of $1,888,000. The job was completed in 2022. The following information is available. The contract is non-cancellable. 2020 2021 2022 Costs incurred to date $472.000 $973.500 $1.262.600 Estimated costs to complete 708.000 324.500 Billings to date (non-refundable) 354.000 1.062.000 1.888.000 Collections to date 318.600 955.800 1.681.500 Calculate the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 2021 2022 $ Gross profit / (loss) $ eTextbook and Media List of Accounts Prepare all necessary journal entries for 2021. (Use Materials, Cash, Payables for costs incurred to date.) (Credit account titles arePrepare all necessary journal entries for 2021. (Use Materials, Cash, Payables for costs incurred to date.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record cost of construction) (To record progress billings) (To record collections) (To record revenues) 10.C Cloudy 19 DELL BelQuestion 4 of 4