Carefree Company has a contract to construct a $675.000 bridge at an estimated cost of $600,000. The contract is to start in January 2021, and the bridge is to be completed in December 2023. The following data pertain to the construction period. 2022 2023 $675,000 $675,000 Contract price Cost incurred current year Estimated cost to complete in future years 2021 $675,000 150,000 450,000 287,400 246,038 246,038 0 180,000 Billings to customer current year Cash receipts from customer current year 135,000 112,500 360,000 262,500 300,000 Prepare the journal entries for 2021, 2022, and 2023