Required information [The following information applies to the questions displayed below) In 2021, 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 2023. Information related to the contract is as follows: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,044,000 5,256,000 2,170,000 1,885,000 2022 $2,628,000 2,628,600 2,502,000 2,600,000 2023 $2,890,800 @ 5,328,000 5,515,000 Westgate recognizes revenue over time according to percentage of completion 2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts for construction costs incurred) 2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts for construction costs incurred) 2-c. In the journal below.complete the necessary journal entries for the year 2023 (credit "Various accounts for construction costs incurred). 5 Complete this question by entering your answers in the tabs below. ed Red 2A Reg 28 Reg 2c In the journal below, complete the necessary Journal entries for the year 2021 (credit "Various accounts for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction to Saved Help Save 9 Required information Req 2A Part 2 of 5 Reg 28 Reg 2c In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10 points View transaction list Skipped Journal entry worksheet eBook 2 3 4 Print Reference Record construction costs Note: Enter debits before credits Required information 2 3 4 Record construction costs. Note: Enter debits before credits Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Required information 2 4 Record progress billings. Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Required information 4 Record cash collections. Note: Enter debits before credits Date General Journal Debit Credit 2021 Record entry Clear entry View general journal Required information 1 2 3 Record gross profit (loss). Note: Enter debits before credits ed General Journal Debit Date 2021 Credit ook rences Record entsy Clear entry View general journal
