only part #5 please explain also to best of ability ,thank you

Chapter 6 - Assignments 6 and 7 0 29 In 2018, 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 2020. Information related to the contract is as follows: $2 523 4ea Cost incurred during the year Estimated costs to complete as o Billings during the year Cash collections during t $1,776 B 5,624, 1440 Bar 1,280, Bae $3,330, 2,294, ea 13.086 90 3.ee, Bee 6.66 points 4,894, eee 5, see, eea Westgate Construction uses the completed contract method of accounting for long-term construction contracts. Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years 2-a. In the journal below.complete the necessary journal entries for the year 2018 (credit "Various accounts for construction costs incurred) 7h In the inumal helow complete the necessary inurnal entries for the year 2019 credit various assounts for construction costs 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following incurred and costs to complete information Cost incurred during the year Estimated costs to complete as of year-end 2018 $2,560, eee 5,769,898 2019 $3,88e, ed 4,269, 2020 $4, 140, eae Complete this question by entering your answers in the tabs below