In the joumal below, complete the necessary joumal 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 fournal entry required" in the first account field. Journal entry worksheet 34 Record the construction costs. Note: Enter debet before credts. In the journal below, complete the necessary joumal entries for the year 2026 (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. Journal entry worksheet Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. Complete this question by entering your answers in the tabs below. Complete the information required below to prepare a partial balance sheet for 2024 and 2025 showing any items reiated to the contract. Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. Note: Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indkated with a minus sign. In 2024, the Westgate Construction Company entered into a contract to construct a tosd for 5 anto Cara County foe $10,000,000. The road was completed in 2026 , Information retoted to the contract is as foltows Assume that Westgate Construction's contract with Santa Cara County does not qualify for revenue recognition over time. Required: 1. Calculate the amount of rewenue and gross profit (0oss) to be zecognized in each of the three years. 2.a. In the journal below, complete the necessary joumal entries for the year 2024 feredit "Cash. Matenials, etc." for construction costs incurred) 2.6. In the joumai below. complete the necessary joumal entries for the year 2025 (credit "Cash, Materais, etc" Por construction costs incurredi). 2c. in the journal below, complete the necessary journol entries for the year 2026 icredt "Cash, Materials, etc" foe construction costs incurred 3. Complete the intormation required below to prepare a partial balance sheet for 2024 and 2025 showing any isems retated to the contract 4. Colcilste the amount of revenue and grous profit coss) to be recognized in each of the three years, assuming the tollowing costs incurred and costs to complete information. 5. Calculate the amount of rewenue and gross profit (loss) to be recognized in each of the three years; assuming the following costs incuered and costs to complete information. In the journal below, complete the necessary journal entries for the year 2025 (credit "Cash, Materials, ete" for construction costs incurred). Fote: If no entry is required for a transactionvevent, select "No journal entry required" in the first account field. Journal entry worksheet 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. 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. Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. Note: Leave no cells blank - be certain to enter " 0 " wherever required. Loss amounts should be indicated with a minus sign. In the joumal below, complete the necessary joumal 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 fournal entry required" in the first account field. Journal entry worksheet 34 Record the construction costs. Note: Enter debet before credts. In the journal below, complete the necessary joumal entries for the year 2026 (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. Journal entry worksheet Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. Complete this question by entering your answers in the tabs below. Complete the information required below to prepare a partial balance sheet for 2024 and 2025 showing any items reiated to the contract. Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years using the above information. Note: Leave no cells blank - be certain to enter "0" wherever required. Loss amounts should be indkated with a minus sign. In 2024, the Westgate Construction Company entered into a contract to construct a tosd for 5 anto Cara County foe $10,000,000. The road was completed in 2026 , Information retoted to the contract is as foltows Assume that Westgate Construction's contract with Santa Cara County does not qualify for revenue recognition over time. Required: 1. Calculate the amount of rewenue and gross profit (0oss) to be zecognized in each of the three years. 2.a. In the journal below, complete the necessary joumal entries for the year 2024 feredit "Cash. Matenials, etc." for construction costs incurred) 2.6. In the joumai below. complete the necessary joumal entries for the year 2025 (credit "Cash, Materais, etc" Por construction costs incurredi). 2c. in the journal below, complete the necessary journol entries for the year 2026 icredt "Cash, Materials, etc" foe construction costs incurred 3. Complete the intormation required below to prepare a partial balance sheet for 2024 and 2025 showing any isems retated to the contract 4. Colcilste the amount of revenue and grous profit coss) to be recognized in each of the three years, assuming the tollowing costs incurred and costs to complete information. 5. Calculate the amount of rewenue and gross profit (loss) to be recognized in each of the three years; assuming the following costs incuered and costs to complete information. In the journal below, complete the necessary journal entries for the year 2025 (credit "Cash, Materials, ete" for construction costs incurred). Fote: If no entry is required for a transactionvevent, select "No journal entry required" in the first account field. Journal entry worksheet 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. 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. Complete this question by entering your answers in the tabs below. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. Note: Leave no cells blank - be certain to enter " 0 " wherever required. Loss amounts should be indicated with a minus sign