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:

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).

(for questions 2-a through 2-c the journal entries should be to Record construction costs, Record construction costs, Record cash collections, and to Record cash collections.

3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. (Do not round intermediate calculations.)

Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year \begin{tabular}{rrr} 2021 & \multicolumn{1}{c}{2022} & 2023 \\ $2,542,000 & $3,772,000 & $2,074,600 \\ 5,658,000 & 1,886,000 & 0 \\ 2,020,000 & 4,294,000 & 3,686,000 \\ 1,810,000 & 3,800,000 & 4,390,000 \end{tabular} Requlred: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round Intermediate calculations. Loss amounts should be Indlcated with a minus sign.) 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round Intermedlate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be Indlcated with a minus sign.) 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs Incurred and costs to complete information. (Do not round Intermedlate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be Indlcated wlth a minus sign.)