During $2020.$ Cullumber Company started a construction job with a contract price of $$1,580,000.$ The job was completed in

The following information is available.

$($a$)$

Compute the amount of gross profit to be recognized each year, assuming the percentage$-$of$-$completion method is used.

Gross profit recognized in $2020,$$

Gross profit recognized in $2021$$

Gross profit recognized in $2022$

$($b$)$ Prepare all necessary journal entries for $2021.$