Thibodeau Contractors inc agreed to construct a building for $400,000 Construction commenced in 2010 and was completed in 2020. Data relating to the contract are summarved below (Click the icon to view the contract data) Required a For each of the three years, determine the following amounts relating to the above contact revenue expenses, gross proft, accounts recevable balance, and constructon-in-process inventory balance b. Record the journal entries using Taccounts Contract data Requirement a For each of the three years, demone the flowng amounts rebeg to the above contra penbesen of a mas sign to one o 2018 Rues current yo Expenses Gress prof 2018 2019 2000 Cests incured dug the year 3 Estimated costs to comple 102,00 222300 104520 60.000 107 600 Bilings dung year 100 000 152,000 Collections daring yo Estaled profe on combat 70000 104.000 . Print Done Thibodeau Contractors Inc agreed to construct a building for $400,000 Construction commenced in 2018 and was completed in 2020. Data relating to the contract are summarized below (Click the icon to view the contract data) Required a. For each of the three years, determine the folowing amounts relating to the above contract revenue, expenses, gross profit, accounts receivable balance, and construction in process inventory balanc b. Record the joumal entries using T-accounts Requirement a. For each of the three years, determine the following amounts relating to the above contract parentheses or a minus sign to enter a loss) Revenues current year Expenses 2018 Gross profit (loss) Contract data 2018 2018 2020 Costs incurred during the year 5 Estimated costs to complete 102,700 $ 222,300 Bangs during year 68.000 164,620 $ 00500 100 000 107 000 152.000 Collectors during year 78,000 150,000 104.000 Estimated profit on contract Print Done Thibodeau Contractors Inc agreed to construct a building for $400,000. Construction commenced in 2018 and was completed in 2020. Data relating to the (Click the icon to view the contract data.) Required a. For each of the three years, determine the following amounts relating to the above contract revenue, expenses, gross profit, accounts receivable baland b. Record the journal entries using T-accounts Contract data 2018 2019 2020 Costs incurred during the year $ 102,700 $ 164,620 $ 107,680 Estimated costs to complete 222,300 60,680 Billings during year 88,000 160,000 152,000 Collections during year 78,000 158,000 164,000 Estimated profit on contract ? ? ? Print Done Thibodeau Contractors Inc. agreed to construct a building for $400,000. Construction commenced in 2018 and was completed in 2020. Data relating to the contract are summ (Click the icon to view the contract data.) Required a. For each of the three years, determine the following amounts relating to the above contract revenue, expenses, gross profit, accounts receivable balance, and construction b. Record the journal entries using T-accounts Contract data 2018 2019 2020 Costs incurred during the year $ 102,700 S 164,620 $ 107,680 Estimated costs to complete 222,300 60,680 Billings during year 88,000 160,000 152,000 Collections during year 78,000 158,000 164,000 Estimated profit on contract 2 ? Print Done Clear Contract data 2018 2019 2020 Costs incurred during the year $ 102,700 $ 164,620 $ 107,680 Estimated costs to complete 222,300 60,680 Billings during year 88,000 160,000 152,000 Collections during year 78,000 158,000 164,000 Estimated profit on contract ? Print Done X Thibodeau Contractors Inc. agreed to construct a building for $400,000. Construction commenced in 2018 and was completed in 2020. Data relating to t (Click the icon to view the contract data.) Required a. For each of the three years, determine the following amounts relating to the above contract revenue, expenses, gross profit, accounts receivable ba b. Record the journal entries using T-accounts Requirement a For each of the three years, determine the following amounts relating to the above contract revenue, expenses, gross profit. (Roum parentheses or a minus sign to enter a loss.) Revenues-current year Expenses Gross profit (loss) 2018 Contract data