In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County 1 $10,000,000. The road was completed in 2023. Information related to the contract is as follows: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 2023 $2,400,000 $3,600,000 $2,200,000 5,600,000 2,000,000 2,000,000 4,000,000 4,000,000 1,800,000 3,600,000 4,600,000 Westgate recognizes revenue over time according to percentage of completion. Journal entry worksheet 1 2 3 4 Record construction costs. Note: Enter debits before credits. Date 2023 General Journal Debit Credit > Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 Record progress billings. Note: Enter debits before credits. Date 2023 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 Jhy Record cash collections. Note: Enter debits before credits. Date 2023 General Journal Debit Credit Record entry Clear entry View general joumal Journal entry worksheet < 1 1 2 3 4 Record gross profit (loss). Note: Enter debits before credits. Date General Journal Debit Credit 2023 > Record entry Clear entry View general journal S