Current Attempt in Progress Monty Construction Company began work on a $402,000 construction contract in 2020. During 2020, Monty incurred costs of $297,000, billed its customer for $205,500, and collected $182,500. At December 31, 2020, the estimated additional costs to complete the project total $160,120. Prepare Monty's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completed- contract method. (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 O for the amounts. Round answers to O decimal places, eg. 5,275.) No. Account Titles and Explanation (e) (b) Construction Expenses Debit 297000 Credit 261197 35813