[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: Cost incurred during the year 2024 $ 2,400,000 Estimated costs to complete as of year-end 5,600,000 2025 $3,600,000 2,000,000 2026 $ 2,200,000 Billings during the year 2,000,000 4,000,000 Cash collections during the year 1,800,000 3,600,000 4,000,000 4,600,000 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. Revenue Gross profit (loss) 2024 2025 2026 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: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year 2024 $ 2,400,000 5,600,000 2,000,000 2025 $ 3,600,000 2,000,000 4,000,000 2026 $ 2,200,000 Cash collections during the year 1,800,000 3,600,000 4,000,000 4,600,000 Westgate recognizes revenue over time according to percentage of completion. 2-a. In the journal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc." for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2025 (credit "Cash, Materials, etc." for construction costs incurred). 2-c. In the journal below, complete the necessary journal entries for the year 2026 (credit "Cash, Materials, etc." for construction costs incurred). Complete this question by entering your answers in the tabs below. Req 2A Req 28 Req 2C