Happy Dam Co obtained a contract to build the dam for $16.8 million. The contract is estimated to be completed at a cost of $14 million. The following information related to the contract is presented: (in $)

	2020	2021	2022
The costs incurred are issued until the year:	5.760.000	10.220.000	14.600.000
Estimated cost of next settlement	7.040.000	4.380.000	-
Current year billing	7.000.000	6.400.000	B
Cash received in the current year	C	5.750.000	4.750.000

Required:

1. Calculate the percentage of completions for 3 years
2. Keep all the necessary journals if the company uses the percentage of completion method!