QUESTION 54 Use this information to answer the following questions: Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800,000. The project was begun in 2017 and completed in 2018. Cost and other data are presented below: 2018 $1,100,000 Costs incurred during the year Estimated costs to complete Billings during the year Cash collections during the year 2017 $ 450,000 1,050,000 400,000 300,000 1,400,000 1,500,000 Assume that Beavis recognizes revenue upon completion of the project. Required: Prepare all journal entries to record costs, billings, collections, and profit recognition. T T T Arial 3 (12pt) T : - E -* - @ 3's Path: n Words