9. (10 points) Helmet Head Construction (HHC) is building a bridge for $12 million at a total cost of $10 million over the next three years. The company uses percentage of completion method to recognize revenue. Below is a summary of the contract 2016 2017 2018 10,100,000 Costs to date Estimated costs to complete Progress billings during the year Cash collected during the year 2,500,000 7,600,000 $4,000,000 $3,250,000 5,000,000 5,100,000 $4,000,000 53.250,000 0 $4,000,000 $5,500,000 Record the necessary journal entries to account for the contract in 2016, 2017 and 2018