In $2021,$ the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $$10,000,000.$ The road was completed in $2023.$ Information related to the contract is as follows:

$202120222023$

Cost incurred during the year $ $2,550,000$ $ $4,250,000$ $ $1,870,000$

Estimated costs to complete as of year$-$end $5,950,0001,700,0000$

Billings during the year $2,050,0004,750,0003,200,000$

Cash collections during the year $1,825,0004,100,0004,075,000$

Westgate recognizes revenue over time according to percentage of completion.