Fortuna Construction Company began work on a new building project on January 1, 2017. The project is to be completed by December 31, 2019, for a fixed price of $141 million. The following are the actual costs incurred and estimates of remaining costs to complete the project that were made by Fortuna's accounting staff: Actual costs incurred in each year $40 million $50 million $55 million Estimated remaining costs to complete the Project $80 million $60 million $0 2017 2018 2019 Required: Provide the journal entries to recognize revenue for each year assuming that Fortuna recognizes revenue for this project over time according to percentage of completion . Eagle Transport provides on-campus bus services for universities. On January 1, it enters into a one-year contract with Ingwerson University to operate five bus lines traveling throughout the campus. Under the contract, Eagle will be paid $150,000 on the last day of each month. In addition, Eagle will receive an additional $180,000 at the end of each six-month period, provided it remains free of accidents. On January 1, based on historical experience, Eagle estimated that there is a 80% chance that it will remain free of accidents for the entire year. On March 20. three of the most senior drivers at Eagle abruptly left. As a result, Eagle had to hire inexperienced drivers to fill the vacant positions. Consequently, Eagle revised its estimate to a 40% chance that it would earn the semiannual bonus. On June 30, Ingwerson confirmed that there was no accident between January and June, so Eagle would be entitled to the semiannual bonus. Eagle bases estimates of variable consideration on the expected value it expects to receive. . . Required: Prepare Eagle's journal entries to account for the revenue earned for January, February and March