1,380,000 Question 8 (5 Marks - 9 Minutes) completed in 2018. Data relating to the construction are: Flames Corp.contracted to build a bridge for $5,000,000. Construction began in 2017 and was 2017 2018 Costs incurred. $1.620,000 $1,400,000 Estimated costs to complete... REQUIRED: Using the percentage-of-completion method: a) Prepare the journal entry to record progress billings of $1,700,000 during 2017. Explanations are not required. b) Prepare the journal entry to record the revenue and gross profit for 2017. Explanations are not required. c) How much gross profit should be reported for 2018