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Problem 6 - 1 0 ( Algo ) Long - term contract; revenue recognition over time [ L 0 6 - 8 , 6 -

Problem 6-10(Algo) Long-term contract; revenue recognition over time [L06-8,6-9]
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In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2026. Information related to the contract is as follows:
\table[[Cost incurred during the year,2024,2025,2026],[Estimated costs to complete as of year-end,$,072,000,$2,738,000,$2,849,000
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