QUESTION 52 5 poll Use this information to answer the following questions: Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800,000. The project was begun in 2017 and completed in 2018. Cost and other data are presented below: 2017 M Costs incurred during the year $ 450,000 $1,100,000 Estimated costs to complete 1,050,000 0 Billings during the year 400,000 1,400,000 Cash collections during the year 300,000 1,500,000 Assume that Beavis recognizes revenue on this contract over time according to percentage of completion. Required: Prepare all journal entries to record costs, billings, collections, and prot recognition. For the toolbar, press ALT+F10 (PC) or ALT+FN+F1O (Mac). 12': ArIaI 3(12P1l *T'55'35'E1'6953 353;; | Path: p WordsziJ /