Crocus Ltd, entered into a contract with a town to construct a rural road for $1,800,000 Construction started in September 2018 and was completed in October 2019. Crocus is a publicly traded company with a December 31st year end. Data relating to the contract is 2019 1325,000 Costs incurred during the year Estimated additional costs to complete Customer Billings during the year Collections of billings during the year 2018 400,000 800,000 350,000 240.000 1,450,000 1,560,000 Required: Prepare the journal entries for both 2018 and 2019 using the percentage of completion method. Use the year as the date and include calculations under each entry Assume that the company uses inputs to measure progress (14 marks)