Beavis Construction Company was the low bidder on a construction project to build an earthen dom for $1,870,000. The project was begun in 2020 and completed in 2021. Cost and other data are presented below: 2820 2021 Costs incurred during the year $ 429,000 $1,170,000 Estimated costs to complete 1,891,00 @ Billings during the year 435, ene 1,435,000 Cash collections during the year 335,eee 1,535,000 Assume that Beavis recognizes revenue on this contract over time according to percentage of completion Required: Prepare all journal entries to record costs, billings, collections, and profit recognition (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 1 > 6 5 7 3 4 9 Record the entry for costs incurred during the year 2020. Note: Enter debits before credits Credit Debit Date General Journal 2020 Clear entry View general journal Record entry Next > Journal entry worksheet 1 3 4 N 5 6 CO 7 8 9 Record the entry for billings during the year 2020. Note: Enter debits before credits. Date General Journal Debit Credit 2020 Record entry Clear entry View general journa View transaction list Journal entry worksheet