Saved Help Star Construction Corp. has a contract to construct a building for $10,950,000. The building is controlled by the customer throughout the term of the contract. Total costs to complete the building were originally estimated at $8,850,000. Construction commenced on 4 February 20X5. Actual costs were in line with estimated costs for 20x5 and 20X6. In 20x7. costs exceeded estimated costs by $150,000 Total construction costs incurred in each year were as follows: 20X5 20X6 20x7 $2,700,000 $4,500,000 $1,800,000 Billings each year were as follows: 20x5 20X6 20x7 $2.300.000 54.900.000 $3,750.000 of the three years assuming the company uses out to whole dollars Help 2. Prepare the journal entries for revenue recognition for each year and for contract completion in 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations to 2 decimal places.) View transaction list Journal entry worksheet 1 2 3 4 Record the costs of construction. Note: Enter debits before credits Debit Credit General Journal Date 20X5