please help!!

rece 60 Terrence Macbe AutoSave OH Excel Assignment - Theory 1 Final draft - Saved - O Search File Home Insert Draw Page Layout Formulas Data Review View Help Calibri AA == a.A- 29 Wrap Text General 10 of cut [Copy Dast 3 Format Painter Cioboard BIU Merge & Center $ % 8-9 Condition Formatting Font Alignment 5 Number F1 fi E A B D 2 3 Excel Assignment (Percentage-of-completion) 4 5 Required: 6 7 1. Using the data provided below you are to input formulas in the area designated below to calculate: % 8 complete, revenue to be recognized in each year, and gross profit to be recognized in each year. (10 points) 9 10 Hint: I suggest you use formulas with an IF function regarding the gross profit section of your speadsheet because your spreadsheet 11 should be able to calculate correct answers whether a contract generates a profit or loss. 12 13 2. Using the data given and the solutions your spreadsheet generated, prepare all journal entries for 2020. 14 Whevenver possible, the amounts for your journal entries should be formulas that reference the appropriate cells 15 in the calcuations below. (10 points) 16 17 3 Once you have completed the spreadsheet save your file with your last name(s) and first name(s) and upload it 18 under Assignments by the assignment due date. 79 Data: 20 21 Contract price 1,200,000 22 23 2019 2020 2021 24 Costs incurred to date $280,000 S600,000 $785.000 25 Estimated costs yet to be incurred 520,000 200,000 26 Customer billings to date 250.000 500,000 1,200,000 27 Collections of billings to date 120,000 320,000 1,040,000 28 29 Calculations Tournal EntriesSheet Sheet 0 MOR Type here to search O 2 3 4. 5 W ER Tab A S D F F G F G H