During 2020, Skysong Company started a construction job with a contract price of $1,590,000. The job was completed in 2022. The following information is available.

		2020		2021		2022
Costs incurred to date		$396,000		$806,600		$1,080,000
Estimated costs to complete		594,000		283,400		0
Billings to date		301,000		892,000		1,590,000
Collections to date		268,000		816,000		1,427,000

Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

Gross profit recognized in 2020		$enter a dollar amount
Gross profit recognized in 2021		$enter a dollar amount
Gross profit recognized in 2022		$enter a dollar amount

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List of Accounts

Prepare all necessary journal entries for 2021