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Chapters 6, 4,3 Hele Boomerang Computer Company sells computers with an unconditional right to return the computer if the customer is not satisfied. Boomerang has a long history selling these computers under this returns policy and can provide precise estimates of the amount of returns asociated with each sale. Boomerang most likely should recognize revenue: Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,860,000. The project was begun in 2020 and completed in 2021. Cost and other data are presented below: Costs incurred during the year Estimated costs to complete Billings during the year Cash collections during the year 2020 2021 $ 432,000 $1,160,000 1.000.000 0 430,000 1.430,000 330,000 1,530,000 Assume that Beavis recognizes revenue on this contract over time according to percentage of completion Required: Prepare all journal entries to record costs, billings, collections, and profit recognition. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 5 6 7 8 9 4 3 2. 1