Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,830,000. The project was begun in 2015 and completed in 2016. Cost and other data are presented below: 2015 2016 Costs incurred during the year 441,000 $1.130,000 Estimated costs to complete 1,029,000 Billings during the year 415.000 1,415.000 Cash collections during the year 315,000 1,515,000 Required information Assume that Beavis recognizes revenue upon completion of the project. Required: Prepare a 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 view general journal Date General Journal Debit Credit 2017 Deferred gross profit