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0 Required information The following information applies to the questions displayed below] In 2018, the Westgate Construction Company entered into a contract to construct a
0 Required information The following information applies to the questions displayed below] In 2018, 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 2020. Information related to the contract is as follows: 20182019 2020 Cost incurred during the year Estinated costs to complete as of year-end Billings during the year Cash collections during the year $2,016,000 $2,808,000 $2,613,600 5,184,000 2,376,000 2,180,000 2,644,800 5,176,000 1,890,000 2,500,000 5,610,000 Westgate recognizes revenue over time according to percentage of completion. nces mation required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the 3. Complete contract. (Do not round intermediate calculations.) the infor
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