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complete all the entries which is mentioned in the questions by showing proper disclosure Ster Construction Corp. has a contract to construct o building for

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Ster Construction Corp. has a contract to construct o building for $10.971,300. The building is controlled by the customer throughout the term of the controct. Toral conts to complete the building were originolly estimoted at $3,874,300. Construction commenced on 4 February 205 Actual costs were in line with estimated costs for 205 and 206 in 207, octual costs exceeded estimoted costs by $143700. Total construction costs incurred in each year were as follows: Bitings (ond cash collections) eoch year were as follows: Requitred: 1 Calculate the revenues and gross profit for the construction project for each of the three years assuming the corpony uses inputs to messure progress. (Round intermediate calculations to 2 decimal places. Round final answers to nearest whole dollars.) 2. Prepare the joumal entries for revenue recognition for eoch year ond for contract complesion in 209. (ff no entry is requtred for a transactson/evert, select "No joumal entry required" in the first account field Round intermediate calculations to 2 decimal places) Journal entry worksheet 234 Record the coests of construction. Journal entry worksheet 2345 Record the costs of construction. Journal entry worksheet 3. Prepare the journal entrien for revenue recognition for eoch yeer and for contect completion in 207, if the custoener did not take control of the osset until the bulding was fully constyucted ond title tronsterred. of no entry is required fer a transaction/event, select "No joumal entry requlred" in the first account field. Pound Intermediate calculations to 2 decieul places) 3. Prepsre the journal entries for revenue recognition for each year and for contract completion in 20X7, if the customer did not toke control of the ssset until the building wos fully constructed and site ransfented af no entiry is reculred for a transaction/event, select "No journal entry requitreof" in the first account fiela. Round intermedufe calculations to 2 decimal places:) Journal entry worksheet 3 Record the costs of construction. Journal entry worksheet 23 Journal entry worksheet

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