Blossom Construction Company uses the percentage-of-completion method of accounting. In 2020, Blossom began work under a non-cancellable contract #E2-D2, which provided for a contract price of $2,234,000. Other details follow: 2020 2021 Costs incurred during the year $615,980 $1,420,000 Estimated costs to complete, as at December 31 1,005,020 0 Billings during the year (non-refundable) 413,000 1,612,800 Collections during the year 351,000 1,530,000 How much revenue should be recognized in 2020 and in 2021? Revenue to be recognized 2020 2021