please help, i received help from someone on here, but answers are not correct.

9 5 points On February 1, 2021. Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,050,000 During 2021, costs of $2,020,000 were incurred, with estimated costs of $4.020,000 yet to be incurred. Billings of $2,524,000 were sent, and cash collected was $2,270,000 In 2022. costs incurred were $2,524,000 with remaining costs estimated to be $3,630,000 2022 billings were $2774,000, and $2.495,000 cash was collected. The project was completed in 2023 after additional costs of $3,820,000 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. 20. 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) 30. 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 complete but not entirely correct. Complete this question by entering your answers in the tabs below. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Req 2B Req Req . 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 Gross profit (loss) recognized recognized 2021 $ 2,691,92035 671,920 2022 4.474,995 (795,920) 2023 8,050,000 (190,000) 515 216,915 (314000) Total Regi Req2A > 9 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg 3A Reg 38 5 points 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 2021 General Journal Credit 1 Construction in progress Notes payable Debit 202.000 202.000 2 2021 Accounts receivable Billings on construction contract 2,524,000 2524,000 3 2021 Cash Accounts receivable 2.270 000 2,270 000 2021 Loss on long-term contract Construction in progress 671.9203 3 671 9203 Retu 9 Complete this question by entering your answers in the tabs below. Regi Req2A Reg 28 Reg 3A Reg 38 5 DO 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.) No Credit Year 2022 General Journal Construction in progress Notes payable Debit 2,524,000 1 2524 000 2 2022 2.774000 Accounts receivable Brings on construction contract 2.774.000 3 2022 2.495.000 Canh Accounts receivable 2.495.000 4 2022 2.578.995 Loss on long term contact Construction in progress BO 2.573 995 9 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Req 3A Req 30 5 points Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021. (Do not found intermediate calculations. Round your answers to the nearest dollar amount.) Balance Sheet At December 31, 2021 Current assets Accounts receivable Billings in excess of costs $ 254000 167.920 % X Current liabilities Billings in excess of costs Billings in excess of costs less loss 0 % ES Ret 9 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Req3A Reg 38 5 points 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 Billings in excess of costs s 533,000 0 EX Current abilities Billings in excess of costs 3 S 878,000