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Required Information [The following information applies to the questions displayed below] During 20x2, Long Construction Corporation entered into a fix price contract to construct a
Required Information [The following information applies to the questions displayed below] During 20x2, Long Construction Corporation entered into a fix price contract to construct a two-lane bridge for $10,000,000. The bridge was completed in 204. Information related to the contract is as follows: Long recognizes revenue over time according to percentage of completion. 2-a. In the journal below, complete the necessary journal hitries for the year 202 (credit "Various accounts" for construction costs ncurred). 2-b. In the journal below, complete the necessary journal entries for the year 203 (credit "Various accounts" for construction costs ncurred). 2-c. In the journal below, complete the necessary journal entries for the year 204 (credit "Various accounts" for construction costs ncurred). Complete this question by entering your answers in the tabs below. In the journal below, complete the necessary journal entries for the year 203 (credit "Various accoun (If no entry is required for a transaction/event, select "No journal entry required" in the first account fi Journal entry workslieet 234 Record construction costs. Thote: Enter debits before credits In the journal below, complete the necessary journal entries for the year 203 (credit "Various account (If no entry is required for a transaction/event, select "No journal entry required" in the first account fie Journal entry worksheet In the journal below, complete the necessary joumal entries for the year 203 (credit "Varlous accounts" for construct (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) Journal entry worksheet
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