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Required information The following information applies to the questions displayed below In 2018, the Westgate Construction Company entered into a contract to construct a road
Required information The following information applies to the questions displayed below In 2018, 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 2020. Information related to the contract is as follows: 2020 $2,655,400 Cost incurred during the year Estimated costs to complete as of year Billings during the year Cash collections during the year 2018 $2, 059,000 5,041,000 2,190,000 1,B95,000 2019 $2,627,000 2,414, 000 2,496,000 -end 5,314,000 ,400, 000 5, 705, 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 2018 (credit "Various accounts" for construction costs 2-b. In the journal below, complete the necessary journal entries for the year 2019 (credit "Various accounts" for construction costs incurred) 2-c. In the journal below, complete the necessary journal entries for the year 2020 (credit "Various accounts" for construction costs incurred). Complete this question by entering your answers in the tabs below Req 2A Req 2B Req 2C In the journal below, complete the necessary journal entries for the year 2018 (credt "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.) Mew transaction list Journal entry worksheet Record construction costs. Note: Enter debits before credits. Date General Journal Debit Credit 2018 Record entry Clear entry View general journal Req 2A Req 2B >
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