Reqmnt 2B: 1. Record construction costs 2. Record progress Billings 3. Record cash collections 3. Record gross profit

https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0 Saved Wk 5 - Apply: Homework [due day 7) @ O 6 Required Information [The following information applies to the questions displayed below] In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for Part 2 of 5 $10.000,000. The road was completed in 2023. Information related to the contract is as follows: 2021 2022 2023 Cost incurred during the year $2, 580, 606 $4, 042, 090 $2, 175, 806 10 Estimated costs to complete as of year-end 6, 020, 080 1, 978, 060 points Billings during the year 2, 060, 080 4, 562, 900 3, 378, 090 Cash collections during the year 1, 830, 090 4, 200, 080 3,970,060 Skipped Westgate recognizes revenue over time according to percentage of completion. BOOK 2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs Print incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred). References 2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred). Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 20 In the journal below, complete the necessary journal entries for the year. 2022 (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.) View transaction list Journal entry worksheet 1 2 3 Record gross profit (loss). Nate: Enter debits before credits Date General Journal Debit Credit 2022 Record entry Clear entry View general journal Graw