During 2017, Buffalo Company started a construction job with a contract price of $1,580,000. The job was completed in 2019. The following information is available. 2017 2018 2019 Costs incurred to date $424,200 $820,500 $1,077,000 Estimated costs to complete 585,800 273,500 0 Billings to date 297,000 894,000 1,580,000 Collections to date 273,000 816,000 1,419,000

Prepare all necessary journal entries for 2018