1. In 2011, Fayette Engineering entered into an agreement to construct an office building at a contract price of $5,100,000. Construction data were as follows: 2011 2012 2013 Construction costs incurred $750,000 $2,700,000 $630,000 Estimated costs to complete 3,000,000 862,500 -- Progress billings 570,000 3,600,000 930,000 Collections from client 450,000 3,300,000 1,350,000 Prepare the necessary entries for 12/31 of 2011, 2012, and 2013 using the: 1. completed-contract method 2. percentage-of-completion method