[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 20x4. Information related to the contract is as follows:

	20x2	20x3	20x4
Cost incurred during the year	$	2,581,000		$	2,347,000		$	3,049,200
Estimated costs to complete as of year-end		6,319,000			2,772,000			0
Billings during the year		2,090,000			2,838,000			5,072,000
Cash collections during the year		1,845,000			2,900,000			5,255,000

Long recognizes revenue over time according to percentage of completion.

2-a. In the journal below, complete the necessary journal entries for the year 20x2 (credit "Various accounts" for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 20x3 (credit "Various accounts" for construction costs incurred). 2-c. In the journal below, complete the necessary journal entries for the year 20x4 (credit "Various accounts" for construction costs incurred).

Journal entry worksheet 1 Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Record progress billings. Note: Enter debits before credits. In the journal below, complete the necessary journal entries for the year 202 (credit "Various accounts" (If no entry is required for a transaction/event, select "No journal entry required" in the first account field Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record cash collections. Note: Enter debits before credits. Journal entry worksheet 12 Note: Enter debits before credits. Required information [The following information applies to the questions displayed below.] During 202, 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 entries 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 20x4 (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 202 (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.) Journal entry worksheet