Required information [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. Informatign related to the contract is as follows: Westgate recognizes revenue over time according to percentage of completion, Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. Note: Do not round intermediate calculations. Loss amounts should be indicated with a minus sign. Required information [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: westgate recognizes revenue over time according to percentage of completion. 2-a. In the journal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc." for construction costs ncurred). 2-b. In the journal below, complete the necessary journal entries for the year 2025 (credit "Cash, Materials, etc." for construction costs neurred). 2-c. In the journal below, complete the necessary journal entries for the year 2026 (credit "Cash, Materials, etc-" for construction costs incurred). Required information View transaction list View journal entry works 1 Record construction costs. 2 Record progress billings. 3 Record cash collections. 4 Record gross profit (loss). Note : = journal entry has been entered In the journal below, complete the necessa incurred). Note: If no entry is required for a transactio Note: If no entry is required for a tran 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: Westgate recognizes revenue over time according to percentage of completion. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years, assuming the following costs heurred and costs to complete information. Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts hould be indicated with a minus sign