Archer Construction Company began work on a Tk. 420,000 construction contract in 2010. During 2010, Archer incurred costs of Tk.278,000, billed its customer for Tk.215,000, and collected Tk.175,000. At December 31, 2010, the estimated future costs to complete the project total Tk.162,000. Prepare, Archer's journal entry to record profit or loss using (a) the percentage-of-completion method and (b) the completed contract method, if any.