And then its asking to repeat those same journal entries for year 2022 and 2023 in "Req 2B and Req 2C"

Problem 6-11 (Algo) Long-term contract, revenue recognition upon completion (L06-9) In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: Cost Incurred during the year Estimated costs to complete as of year-end Billings during the year cash collections during the year 2021 $ 1,491,000 5,609,000 1,100,00 900,00 2622 $ 3,195,00 2,414, eee 3,586,000 2,780,000 2023 $ 2,655,400 5,314,00 6,400, see Assume that Westgate Construction's contract with Santa Clara County does not qualify for revenue recognition over time. Required: 1. Calculate the amount of revenue and gross profit (oss) to be recognized in each of the three years 2-0. In the journal below, complete the necessary Journal entries for the year 2021 (credit "Various accounts for construction costs incurred) 2.b. In the journal below.complete the necessary Journal entries for the year 2022 (credit "Various accounts for construction costs incurred) 2.c. in the Journal below.complete the necessary journal entries for the year 2023 (credit "Various accounts for construction costs Incurred). 2. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract 4. Calculate the amount of revenue and gross profit (los) to be recognized in each of the three years assuming the following costs incurred and costs to complete Information 2-b. In the journal below.complete the necessary journal entries for the year 2022 (credit "Vanous accounts for construction costs incurred) 2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts for construction costs incurred) 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2821 2022 2023 Cost incurred during the year $2,590,000 $3,895,000 $3,290,000 Estimated costs to complete as of year-end 5,790, eee 3,290,000 e 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information 2023 Cost incurred during the year Estimated costs to complete as of year-end 2021 $2,590, eee 5,700.000 2022 $3.895.ee 4,290,000 $4,185,00 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg2 Reg 3 Reg 4 Reg 5 Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three yean. (Lehre ne cells blank be certain to enter of wherever required Loss amounts should be indicated with minus ign. 2021 2022 2023 Revende Grosso Red 2A > Journal entry worksheet Cost incurred during the year Estimated costs to complete as of year-end 2021 $2,590, 800 5,790,000 2022 $3,895, Bee 4,290,000 2023 $4, 185, eee Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Reg 20 Reg 3 Reg 4 Reg 5 Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. (Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indicated with a minus sign.) 2021 2022 2023 Revenue Gross profit (loss) Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 2c Reg 3 Req4 Reg 5 Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. (Leave no cells blank - be certain to enter"" wherever required. Loss amounts should be indicated with a minus sign.) 2021 2022 2023 Revenue Gross profit (loss)