Arizona Desert Homes (ADH) constructed a new subdivision during 2020 and 2021 under contract wth Cactus Development Co. Relevant data are summarted below Contract amount $ 2.775.000 Cost: 2020 1.150,000 2021 550.000 Gross profit 2020 725.000 2021 350.000 Contract billings 2020 1.387.500 2021 1,387,500 ADH recognizes revenue upon completion of the contract. What is the journal entry in 2021 to record revenue? Construction in propress Cost of construction Revenue from long-term contracts 350.000 550.000 900.000 1,387,500 Accounts receivable Revenue from long-term contract 1,387,500 Cost of construction Gross profit Revenue from long term contracts 1.875.000 900.000 2.275,000 1.075.000 1.700.000 Construction in protress Cost of construction Revenue from long-term contracts 2775.000