Kasher Construction Limited ( ALL ) entered Into a contract to construct a building for by /'s, Jud . The contract provided for progress payments . RCL's accounting year ends December 31 . Work began under the contract on August 1 , 2017 , and was completed on October 31 , 2019 . Construction activities are summarized below :" 2017 2018 2019 Construction costs incurred during the year 1 80 , 000 150 , 000 195 , 000 Estimated remaining costs to complete 630, 000 190 , 000 Progress Billings to date 153 , 000 535 , 500 975 , 000 Cash Collections to date 140 , 000 375 , 000 450 , 000 REQUIRED 1 . Record RCL's journal entries assuming that the percentage- of-completion method is used . Assume that the percentage of completion is measured by the ratio of costs incurred to date divided by total estimated construction Costs . . Complete the following table for RCL using the percentage- of-completion method ( as of and for the year ended December 31 ) : 2017 2018 2019 Accounts Receivable CIP Inventory Billings on Contract Cost in excess of billings Construction Revenue Costs of Construction Gross Profit A