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These are the correct journal entries, just need help with the numbers for all three years Required information [The following information applies to the questions
These are the correct journal entries, just need help with the numbers for all three years
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 2018 2020 2019 $2,550,000 $4,250,000 $1,870,000 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 5,950, 000 1,700,000 2,050,000 1,825,000 4,750,000 4,100,000 3,200,000 4,075,000 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 incurred) 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)Step by Step Solution
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