During 2020, Ayayai Company started a construction job with a contract price of $1,580,000. The job was completed in 2022. The following information is available. 2020 2021 2022 Costs incurred to date $383,800 $807,380 $1,070,000 Estimated costs to complete 626,200 298,620 -0- Billings to date 297,000 895,000 1,580,000 Collections to date 271,000 807,000 1,433,000 Account Titles and Explanation (To record cost of construction.) (To record progress billings.) (To record collections.) (To recognize revenue.) Debit Credit