During 2020. Grouper Company started a construction job with contact price of $ 1.500.000. The job was completed in 2022. The following information is available, 2022 1.0741 Costs incurred to date Estimated costs to complete Billings to date Collections to date 2020 405 900 584.100 302.00 272.00 2021 8206 262,320 1980 818/06 1.800.000 TAO Part 1. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2030, Gross profit recognised in 2021 Gross profit recognized in 2022 Part 2. Prepare all necessary journal entries for 2021. Accounts Debit Credit 9 Part 3. Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used. 41 Cross propis 2020 42 Gross pertolongnized in 2020: Cross profil record in 2072 6 67