cost to cost percentage of completion method is used IInitial bid and estimate Contract price 5,400 cost to complete 4,800 Year Actual cost this year Progress billings Cash received 1 2,800 2,600 2,300 2 2,200 2,100 1,900 3 600 700 700 4 0 600 estimated cost to complete year 1 2,200 2 500 3 0 Prepare a schedule showing revenue cost gross profit recognized cach year Provide journal entries for year