I have completed parts #1, #2, #3. Please Look them over and verify if they are right.

Please answer parts #4-9

#1

#2

#3

#4 (please answer parts #4-9)

#5

#6

#7

#8

#9

Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,840,000. 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 $ 438,000 $1,140,000 1,022,000 0 420,000 1,420,000 320,000 1,520,000 Assume that Beavis recognizes revenue upon completion of the project. 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.) Journal entry worksheet Record the entry for costs incurred during the year 2020. Note: Enter debits before credits. Credit Date 2020 General Journal Construction in progress Cash Debit 438,000 438,000 Journal entry worksheet