Problem $6-10($Algo$)$ Long$-$term contract; revenue recognition over tlme $[$LO$6-8,6-9]$

$[$The following information applies to the questions displayed below.$]$

In $2024,$ 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 $2026.$ 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

$2024,2025,2026$

$2,490,000,$$$3,984,000,$$$2,608,600$

$5,810,600,1,826,000,0$

$2,930,000,4,444,000,3,526,600$

$1,815,000,3,900,000,4,285,600$

Westgate recognizes revenue over time according to percentage of completion.

Problem $6\mathrm{.}10($Algo$)$ Part $3$

$3.$ Complete the information requlred below to prepare a partial balance sheet for $2024$ and $2025$ showing any items related to the contract.

Note: Do not round intermediate calculations.

$\backslash$table$[[$Balance Sheet $($Partial$),2024],[$Current assets:,,$],[,,],[,,],[,,],[,,],[,,],[,,],[,,],[,,]]$