"E18-36' (LO5,6) (Recognition of Revenue on Long-Term Contract and Entries) Hamilton Construction Company uses the percentage-of-completion method of accounting. In 2017, Hamilton began work under contract \#E2-D2, which provided for a contract price of $2,200,000. Other details follow: Instructions (a) What portion of the total contract price would be recognized as revenue in 2017? In 2018 ? (b) Assuming the same facts as those above except that Hamilton uses the completed-contract method of accounting, what portion of the total contract price would be recognized as revenue in 2018 ? (c) Prepare a complete set of joumal entries for 2017 (using the percentage-of-completion method)