During 2020, Carla Vista Company started a construction job with a contract price of $ 1,824,000. The job was completed in 2022. The following information is available. The contract is non-cancellable. 2020 2021 2022 Costs incurred to date $ 456,000 $ 940,500 $ 1,219,800 Estimated costs to complete 684,000 313,500 0 Billings to date (non-refundable) 342,000 1.026.000 1,824,000 Collections to date 307,800 923,400 1,624,500 (a) Your answer is correct. Calculate the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 2021 2022 Gross profit/(loss) $ 273600 $ 153900 $ 176700 Prepare all necessary journal entries for 2021. (Use Materials, Cash, Payables for costs incurred to date.) (Credit account titles are automatically indented when the 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.) Account Titles and Explanation Debit Credit Construction in Progress 940500 Materials, Cash, Payables 940500 (To record cost of construction) Accounts Receivable 313500 Contract Asset/Liability 313500 (To record progress billings) cash HAT Accounts Receivable (To record collections) cash Accounts Receivable (To record collections) IN DE IN ON TO A (To record revenues) (To record construction expenses)