Coronado Construction Company began work on a $407,000 construction contract in 2020. During 2020, Coronado incurred costs of $272,000, billed its customer for $217,000, and collected $177,500. At December 31, 2020, the estimated additional costs to complete the project total $157,020. Prepare Coronados journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completed-contract method.