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Q5) Bran Co. signed a contract of 8.000.000$ on 1.1.2016. The construction is estimated to be finished in three years with a total cost of 5.000.000 $. The company applies percentage of completion method for the revenue recognition. The related information for the construction contract is as follows: 31.12.2018 5.500.000 Costs to the date (Accumulated Costs) Estimated costs Billings Collections from billings 31.12.2016 1.900.000 3.100.000 2.400.000 2.300.000 31.12.2017 3.850.000 1.650.000 3.600.000 3.400.000 2.000.000 2.300.000 Make the necessary calculations and journal entries for every year