$3$ Required information

Problem $6-10($Algo$)$ Long$-$term contract; revenue recognition over time $[$LO$6-8,6-9]$

$[$The following information applies to the questions displayed below.$]$

In $2024,$ 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 $2026.$ Information related to the contract is as follows:

Cost incurred during the year

Estimated costs to complete as of year$-$end

Billings during the year

Cash collections during the year

$\backslash$table$[[2024,2025,2026],[$$$2,184,000,$$$3,510,000,$$$2,316,600$