Ciorad Corp. contracts with a customer to construct a building. It appropriately determines that it has one pertormance obligation which is satisfied over time, Using the following inlormation for Year 1: Asquired: Prepare the joumal entries to record Yoar 1y (a) construction costs, (b) partal bilings, (c) cash colleetions, and (d) gross profit. Prepare the journal entries to record Year 1 's (a) construction costs, (b) partial billings, (c) cash collections, and (d) gross profit. General Journal Instructions General Journal