please help, i seem to be stuck with this problem.

Check my 9 pints ebook On February 1, 2021. Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,050,000 During 2021, costs of $2,020,000 were incurred, with estimated costs of $4.020,000 yet to be incurred Billings of $2,524,000 were sent, and cash collected was $2,270,000 In 2022, costs incurred were $2,524,000 with remaining costs estimated to be $3,630,000 2022 billings were $2.774.000, and $2.495.000 cash was collected. The project was completed in 2023 after additional costs of $3.820,000 were incurred. The company's fiscal year-end is December 31. This project does not qualify for revenue recognition over time Required: 1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years 20. Prepare joumat entries for 2021 to record the transactions described (credit various accounts for construction costs incurred) 2b. Prepare Journal entries for 2022 to record the transactions described (credit various accounts for construction costs incurred) 30. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021 3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022 ASH rences Complete this question by entering your answers in the tabs below. heel Reg 2A Rea 28 Red JA Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. (Lose amounts should be indicated with a minus on: 9 Complete this question by entering your answers in the tabs below. 5 points Reg1 Red 2A Reg 28 Reg JA Req 30 Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. (loss amounts should be indicated with a minus sign.) Boo Year 2021 2022 2023 Total Revenue Gross profit foss) recognized recognized 5 2.692 210 s 672 210 1.702850 (741.150) 3.574333 245067 58.050 0015 (313.999) Reg 2A 9 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Red 3A 5 points Reg 38 Prepare journal entries for 2021 to record the transactions described (credit "various accounts for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) BOOK AR View transaction list View journal entry worksheet aeterences No Credit Year 2021 Debit 202,000 1 202.000 General Journal Construction in progress Notes payable Accounts receivable Billings on construction contra Cash Accounts receivable 9 Reg 1 Req 2A Req 2B Reg 3A Req 3B Prepare journal entries for 2022 to record the transactions described (credit "various accounts for construction costs incurred entry is required for a transaction/event, select "No journal entry required" in the first account field.) Coints View transaction list View Journal entry worksheet eBook No Year 2022 Debit Credit 1 Ask General Journal Construction in progress Noles payable References 2 2022 Accounts receivable Billings on construction contract 3 2022 Cash Accounts receivable 4 2022 Construction in progress Service revenue MC 9 Complete this question by entering your answers in the tabs below. 5 points Book Reg 1 Reg 2A Reg 28 Req3A Req 30 Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021. (Do not round intermediate calculations, Round your answers to the nearest dollar amount.) Balance Sheet Al December 31, 2021 Current assets Accounts receivable Construction in progress Blings in excess of costs les tous Billings in excess of costs Current liabilities Billings in excess of costs References 9 Complete this question by entering your answers in the tabs below. 5 points Reg 1 Reg 2 Reg 2B Req 3A Reg 38 Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) eBook Atk Beference 5 254.000 Balance Sheet A1 December 31, 2022 Current assets Accounts receivable Construction in progress Billings in excess of costs less loss Billings in excess of costs Current liabilities Bilings in excess of costs