Required information Problem 6-10 (Algo) Long-term contract; revenue recognition over time [LO6-8, 6-9] Skip to question [The following information applies to the questions displayed below.] 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: 2024 2025 2026 Cost incurred during the year $ 2,610,000 $ 3,162,000 $ 2,230,800 Estimated costs to complete as of year-end 6,390,000 2,028,000 0 Billings during the year 2,100,000 3,672,000 4,228,000 Cash collections during the year 1,850,000 3,000,000 5,150,000 Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) P