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In 2024, 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
In 2024, 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 2026 . Information related to the contract is as follows: Westgate recognizes revenue over time according to percentage of completion. a. In the journal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc." for construction curred). b. In the journal below, complete the necessary journal entries for the year 2025 (credit "Cash, Materials, etc." for construction curred). c. In the journal below, complete the necessary journal entries for the year 2026 (credit "Cash, Materials, etc." for construction curred). Complete this question by entering your answers in the tabs below. In the journal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc." for construction costs incurred). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field
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