2A. is general journal entries for 2018 && 2B is the Journal entries for 2019.

On February 1, 2018 Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,025,000. During 2018, costs of $2,010,000 were incurred, with estimated costs of $4,010,000 yet to be incurred. Billings of $2,512,000 were sent, and cash collected was $2,260,000. In 2019, costs incurred were $2,512,000 with remaining costs estimated to be $3,615,000. 2019 billings were $2.762.000, and $2,485,000 cash was collected. The project was completed in 2020 after additional costs of $3,810,000 were incurred. The company's fiscal year-end is December 31. This project does not qualify for revenue recognition over time. Required: 1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. 20. Prepare journal entries for 2018 to record the transactions described (credit 'various accounts for construction costs incurred 2b. Prepare journal entries for 2019 to record the transactions described (credit "various accounts for construction costs incurred). 30. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018 3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2019. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Reg 2B Req Reg 3B Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. (Loss amounts should be indicated with a minus sign.) Year Revenue recognized Gross profit (loss) recognized 2018 2019 2020 Total $ 0 $ 0 Reg 2 > Complete this question by entering your answers in the tabs below. Req 1 Req 2A Reg 28 Reg 3A Req 3B Prepare journal entries for 2018 to record the transactions described (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 View journal entry worksheet Debit Credit Record the construction costs. Record the progress billings. Record the cash collections. Record the expected loss. Req 28 > Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Req 2B Req 3A Reg 3B Prepare journal entries for 2019 to record the transactions described (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 1 Record the construction costs. 2 Record the progress billings. 3 Record the cash collections. 4 Record the expected loss. Credit 35. Prepare a paludi didice sheet to show the presentation of the project as of December 31, 2019. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Req Req 3B Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Balance Sheet At December 31, 2018 Current assets: Current liabilities Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Reg 2B Reg 3A Reg 33 Prepare a partial balance sheet to show the presentation of the project as of December 31, 2019. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Balance Sheet At December 31, 2019 Current assets: Current liabilities