Assume that Sheridan Construction Company has a non-cancellable contract to construct a $5,550,000 bridge at an estimated cost of $4,000,000. The contract is to start in July 2023, and the bridge is to be completed in October 2025. The following data pertain to the construction period. (Note that, by the end of 2024, Sheridan has revised the estimated total cost from $4,000,000 to $4,006,000.) Assume that progress billings are non-refundable. Assume that the company uses the completed-contract method. 2023 2024 2025 Costs to date (12/31) $1,000,000 $2,884,320 $4,006,000 Estimated costs to complete (12/31) 3,000,000 1,121,680 0 Progress billings during the year 996,000 2,497,000 2,057,000 Cash collected during the year 930,000 1,852,000 2.768,000 What would the journal entries be for 2025? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Account Titles and Explanation (To record cost of construction) (To record progress billings) (To record collections) (To record revenues) Debit Credit On January 1, 2023, Blossom Ltd. sold on account 1.200 units of its product for a total price of $553,000 and a cost of $453,000. The products have a one-year assurance-type warranty and Blossom estimates that the cost will be $22.600. By the company's year-end December 31, 2023, actual warranty costs related to the products sold was $19,300, paid in cash. Prepare all appropriate journal entries including the sale of merchandise. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all- debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record the sale) (To record the cost of goods sold) Debit Credit To increase sales, Carla Vista Inc., a public company following IFRS, Implemented a customer loyalty program that rewards a customer with one loyalty point for every $20 of merchandise purchased. Each point is redeemable for a $2.50 discount on any purchases of Carla Vista merchandise in the next three years. After the program launched, during 2023, customers bought merchandise for $220,000 (all products are sold to provide a 40% gross profit) and earned 11,000 points redeemable for future purchases. The stand- alone selling price of the merchandise sold is $220,000. Based on prior experience with incentive programs like this, Carla Vista expects 7,100 points to be redeemed related to these sales. (b) Prepare the journal entries for cash sales including the issuance of loyalty points for Carla Vista in 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round percentage allocations to 2 decimal places, eg. 52.75% and final answers to O decimal places, eg 5,275. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit (To record cash sales of products subject to loyalty points) (To record cost of goods sold)