During 2020, Flounder Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available. Costs incurred to date Estimated costs to complete 2020 2021 2022 $383,800 $905,280 $1,063,000 626,200 198,720 -0- 302,000 896,000 1,610,000 271,000 817,000 1,419,000 Billings to date Collections to date Your answer is incorrect. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020 ta Gross profit recognized in 2021 $ Gross profit recognized in 2022 ta $ Prepare all necessary journal entries for 2021. (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 for the amounts. For costs incurred use account Materials, Cash, Payables.) Account Titles and Explanation Debit Credit Construction in Process 417845.68 Accounts Payable 417845.68 (To record cost of construction.) (To record progress billings.) (To record collections.) (To recognize revenue.) Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used. 2020 2021 2022 Gross profit $ 231800 181600 132600