5. Winnie the Pooh Construction Co. signed a $200,000 contract to construct a very small building for the State of Florida. The project will begin in 2017 and be completed in 2019 (Yes, they work very, very slowly!). Below are the details: 2017 2018 2019 Costs incurred during the year80,500 $79,700 $20,140 Estimated costs to complete 94 500 19800 Billings during the year Cash collections during the year 80,0 85,000 96,500 18,500 0 84,000 32,000 Winnie the Pooh Construction Co. recognizes revenue over time according to the percentage-of-completion method when accounting for long-term contracts. Required: a. Prepare all journal entries to record costs, billings, collections, and any profit recognition for Pooh's activities for 2017. b. Prepare all journal entries to record costs, billings, collections, and any profit recognition for Pooh's activities for 2018 c. Prepare all journal entries to record costs, billings, collections, and any profit recognition for Pooh's activities for 2019 d. Prepare the journal entry to close the construction accounts in 2019 e. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2017, 2018 and 2019