Blossom Construction Company uses the percentage-of-completion method of accounting. In 2017, Blossom began work under a non-cancellable contract #E2-D2, which provided for a contract price of $1,628,000. Other details follow:

		2017		2018
Costs incurred during the year		$473,600		$1,054,500
Estimated costs to complete, as at December 31		710,400		0
Billings during the year (non-refundable)		310,800		1,243,200
Collections during the year		259,000		1,110,000

How much revenue should be recognized in 2017 and in 2018?

Assuming the same facts as those above except that Blossom uses the completed-contract method of accounting, how much revenue should be recognized in 2018? (Do not leave any answer field blank. Enter 0 for amounts.)

Prepare a complete set of journal entries for 2017. (using the percentage-of-completion method. Use Accounts Payable for costs incurred to date.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

2017 2018 Revenue $ $ 2017 2018 Revenue $ Account Titles and Explanation Debit Credit (To record cost incurred.) (To record billings to date.) (To record collection.) (To record revenue from long-term contract.) (To record construction expenses.)