Applying the Financial Statement Effects Template Camden Corporation agreed to build a warehouse for a client at an agreed contract price of $1,080,000. Expected (and actual) costs for the warehouse follow: 2016, $243,000; 2017, $405,000; and 2018, $162,000. The company completed the warehouse in 2018. a. Use the financial statement effects template to record contract revenues and expenses for each year 2016 through 2018 using the cost-to-cost method. Assume Camden does not receive payment until the contract is completed. All costs are paid in cash. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Transaction 1. 2016: Record construction costs paid 2.2016: Accrue revenue for contract 3. 2017: Record construction costs paid 4. 2017: Accrue revenue for contract 5. 2018: Record construction costs paid 6. 2018: Accrue revenue for contract Balance Sheet Cash Asset Noncash Assets Liabilities Contrib. Capital Earned Income Statement Revenues Capital 0 0 = 0 0 0 0 = 0 0 = 0 0 0 0 = 0 0 = 0 0 0 0 = = = 0 0 = 0 0 0 0 = 0 0 = 0 0 0 0 = 0 0 = 0 0 0 0 = Ex b. Prepare journal entries and t-accounts to record contract revenues and expenses for each year 2016 through 2018 using the cost-to-cost method. Account Debit Credit 2016 0 0 0 0 Record construction costs paid 2016 0 0 0 0 Accrue revenue for contract Cost of Sales Cash Accounts Receivable 2016 0 0 2016 0 0 2016 0 0 2016 Revenue 0 0 Account Debit Credit 2017 0 0 0 0 Record construction costs paid 2017 0 0 0 0 2017 Accrue revenue for contract Cost of Sales Cash Accounts Receivable Revenue 0 0 2017 0 0 2017 0 0 2017 0 0 Account Debit Credit 2018 0 0 0 0 Record construction costs paid 2018 0 0 0 0 2018 Accrue revenue for contract Cost of Sales Cash 0 0 2018 0 0 2018 Please answer all parts of the question. Accounts Receivable 0 Revenue 0 2018 0 0