Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800,000. The project was begun in 2018 and completed in 2019. Cost and other data are presented below: 2018 2019 Costs incurred during the year Estimated costs to complete $450,000 $1,100,000 1,050,000 0 Billings during the year 400,000 1,400,000 Cash collections during the year 300,000 1,500,000 Requirements: a. Assume that Beavis recognizes revenue on this contract over time according to percentage of completion. Compute the amount of gross profit recognized during 2018 and 2019 b. Assume that Beavis recognizes revenue on this contract over time according to percentage of completion. Prepare all journal entries to record costs, billings, collections, and profit recognition. c. Assume that Beavis recognizes revenue upon completion of the project. Compute the amount of gross profit recognized during 2018 and 2019. d. Assume that Beavis recognizes revenue upon completion of the project. Prepare all journal entries to record costs, billings, collections, and profit recognition