Can you help me answer the question?

Business at PPP has been booming and in 2015 they entered into a contract with CC to have CC construct a new factory building for them so that they can meet the unexpectedly high demand for these dolls. PPP agreed to pay $24,000,000 for the construction of its new factory. The contract between CC and PPP qualifies for CC to use the percentage-ofcompletion method to recognize revenue over the life of the project. At the time the contract was signed in 2015 the CC estimated that its cost to complete the contract would be as follows: 2015 2016 2017 2018 Total Estimated Costs 3,000,000 5,000,000 4,000,000 3,000,000 20,000,000 These figures were used to estimate both revenues and gross profit for 2015. During the year in 2016 CC ran into some zoning issues and was forced to incur an additional 2,500,000 above and beyond the 5,000,000 that was initially budgeted for. There were no other changes to the estimated costs for the calculation of 2016 revenue and gross profit. Bad luck struck again in 2017 as the cost of materials needed to nish the project went up and CC revised its costs for 2017 and 2013 to 5,000,000 and 4,000,000 respectively. Part IV Required: Provide the adjustingjournal entry that CC would make at the end of each of the years 2015, 2016, 2017 and 2018 to account for the revenues, expenses and gross prot on this project. (Hint: you do not need to worry about billings, cash collections or closing out the billings and CIP accounts, just record the revenue, expense and gross profit for each year)