Archer Construction Company began work on a $420,000 construction contract in 2020. During 2020, Archer incurred costs of $278,000, billed its customer for $215,000, and collected $175,000. At December 31, 2020, the estimated additional costs to complete the project total $102,000. Prepare Archer's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method Journal Entry Accounts Debit [Select] [Select] [Select] [Select] (b) the completed-contract method. Accounts [Select] [Select] [Select] Journal entry Debit [Select] > [Select] Credit [Select] Credit