***Total of 2 Parts***

1st pt. I just need 2026 Gross profit

2nd pt: most entries are incorrect

Required Information Problem 6-10 (Algo) Long-term contract; revenue recognitlon over time [LO6-8, 6-9] [The following Information applles 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: Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) Part 1 Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized In each of the three years. Note: Do not round Intermedlate calculatlons. Loss amounts should be Indlcated with a minus sign. Requiled Informetion Problem 6-10 (Algo) Long-term contract; revenue recognition over time [LO6-8, 6-9] [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: Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) Part 2 2-0. In the journal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc." for construction cos incurred). 2.b. In the journal below, complete the necessary journal entries for the year 2025 (credit "Cash. Materials, etc," for construction cos incurred). 2-c. In the journal below, complete the necessary journal entries for the year 2026 (credit "Cash, Materials, etc." for construction cos incurred). Answer is not complete. Complete this question by entering your answers in the tabs below. In the journal below, complete the necessary journal entries for the year 2024 (credit "Cash, Materials, etc." for construction costs incurred). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field