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:

	2021			2022			2023
Cost incurred during the year	$	2,100,000		$	2,450,000		$	2,695,000
Estimated costs to complete as of year-end		4,900,000			2,450,000			0
Billings during the year		2,200,000			2,350,000			5,450,000
Cash collections during the year		1,900,000			2,300,000			5,800,000

Westgate recognizes revenue over time according to percentage of completion.

2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred). 2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred).

• Req 2A
• e the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

No	Date	General Journal	Debit	Credit
1	2021	Construction in progress	2,100,000
		Various accounts		2,100,000
2	2021	Accounts receivable	2,200,000
		Billings on construction contract		2,200,000
3	2021	Cash	1,900,000
		Accounts receivable		1,900,000
4	2021	Construction in progress
		Cost of construction
		Revenue from long-term contracts

• Req 2B

In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

No	Date	General Journal	Debit	Credit
1	2022	Construction in progress	2,450,000
		Various accounts		2,450,000
2	2022	Accounts receivable	2,350,000
		Billings on construction contract		2,350,000
3	2022	Cash	2,300,000
		Accounts receivable		2,300,000
4	2022	Construction in progress
		Cost of construction
		Revenue from long-term contracts

In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

req c

No	Date	General Journal	Debit	Credit
1	2023	Construction in progress	2,695,000
		Various accounts		2,695,000
2	2023	Accounts receivable	5,450,000
		Billings on construction contract		5,450,000
3	2023	Cash	5,800,000
		Accounts receivable		5,800,000
4	2023	Construction in progress
		Cost of construction
		Revenue from long-term contracts