please complete and correct all required parts to the problem. added extra photos so it is easier to ubderstand and you can see what i already have correct and incorrect.

Exercise 6-22 (Algo) Long-term contract; revenue recognition upon project completion; loss projected on entire project (LO6-8, 6-9) On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,150,000. During 2021, costs of $2,060,000 were incurred, with estimated costs of $4,060,000 yet to be incurred. Billings of $2,572,000 were sent, and cash collected was $2,310,000. In 2022. costs incurred were $2,572,000 with remaining costs estimated to be $3,690,000. 2022 billings were $2.822.000, and $2.535.000 cash was collected. The project was completed in 2023 after additional costs of $3,860,000 were incurred. The company's fiscal year-end is December 31. This project does not qualify for revenue recognition over time. Required: 1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. 2a. Prepare journal entries for 2021 to record the transactions described (credit 'various accounts for construction costs incurred). 2b. Prepare journal entries for 2022 to record the transactions described (credit "various accounts for construction costs incurred). 3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021. 3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Req 2B Req Reg 38 Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. (Loss amounts should be indicated with a minus sign.) Return to a za. Prepare journal entries for ZUZI record une uansacLIONS Deschieu (Credit van US accounts for consu ucun COSES incurred 2b. Prepare journal entries for 2022 to record the transactions described (credit various accounts for construction costs incurred 3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021. 3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Reg 3A Req 3B Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years. (Loss amounts should be indicated with a minus sign.) Year Revenue recognized Gross profit (loss) recognized 2021 2022 2023 Total $ 0 $ Regt Req2A > Ju. Prepare a parudi Udidlice See U STIUW ure presentaUOLIUI projeLLa UI VELMI SI, ZULL. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Reg 3A Reg 3B Prepare journal entries for 2021 to record the transactions described (credit "various accounts for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Year General Journal Credit Debit 2,060,000 2021 Construction in progress Various accounts 2,060,000 2021 2,572,000 Accounts receivable Bilings on construction contract 2,572,000 2021 2,310,000 Cash Accounts receivable 2,310,000 2021 Loss on long-term contract Construction in progress Req1 Req 20 > Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Req 3A Req 3B Prepare journal entries for 2022 to record the transactions described (credit "various accounts for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) General Journal Debit Credit No 1 Year 2022 Construction in progress Various accounts 2 2022 Accounts receivable Billings on construction contract 2022 Cash Accounts receivable 2022 Loss on long-term contract Construction in progress JU. Prepare a parudI UGICHE DILLU DIUW ure presenUUHUIUS pruuLL VI VELMI SI, LULL. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg 3A Req 3B Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Balance Sheet At December 31, 2021 Current assets: Accounts receivable Current liabilities: Billings in excess of costs $ 512,000 30. Prepare a poludi didice SELL SHOW ure prese LUULUI UE projeLLOS UI VULT JI, ZULL. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Req ZA Req 2B Req Reg 3B Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Balance Sheet At December 31, 2022 Current assets: Accounts receivable Current liabilities: Billings in excess of costs Billings in excess of costs less loss Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Reg 2B Reg 3A Req 3B Prepare journal entries for 2021 to record the transactions described (credit "various accounts" for construction costs incu entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10:00 View transaction list 0 Record the construction costs. Record the progress billings. nces 3 Record the cash collections. Record the gross profit or loss. Credit 2,060,000 Note : = journal entry has been entered Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. anowers in the tabs below. Req 1 Req 2A Req 2B Req 3A Req 3B Prepare journal entries for 2022 to record the transactions described (credit "various accounts for construction entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet Debit Credit Credit 1 Record the construction costs. Record the progress billings. L 3 Record the cash collections Record the gross profit or loss. Reg 3A > Note : journal entry has been entered