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list of acct for the question Penner Builders contracted to build a high-rise for $27,400,000. Construction began in 2018 and is expected to be completed

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Penner Builders contracted to build a high-rise for $27,400,000. Construction began in 2018 and is expected to be completed in 2020. Data for 2018 and 2019 are: 2018 $3,540,000 $10,088,000 2019 Costs incurred to date Estimated costs to complete 14,160,000 9,312,000 Penner uses the percentage-of-completion method. How much gross profit should be reported for 2018? Gross profit s SHOW LIST OF ACCOUNTS How much gross profit should be reported for 2019? Gross profit SHOW LIST OF ACCOUNTS Make the journal entry to record the revenue and gross profit for 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit

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