In 2021, 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 2023. Information related to the contract is as follows: 2021 2022 2023 Cost incurred during the year $ 2,624,000 $ 3,690,000 $ 2,074,600 Estimated costs to complete as of year-end 5,576,000 1,886,000 0 Billings during the year 2,200,000 4,114,000 3,686,000 Cash collections during the year 2,000,000 3,800,000 4,200,000 Assume that Westgate Construction’s contract with Santa Clara County does not qualify for revenue recognition over time. Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. 2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accou