Headland Construction Company began work on a $413,500 construction contract in 2020. During 2020, Headland incurred costs of $264,500, billed its customer for $212,000, and collected $175,000. At December 31, 2020, the estimated additional costs to complete the project total $160,740. Prepare Headland's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completed- contract method. (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. Round answers to 0 decimal places, e.g. 5,275.) No. Account Titles and Explanation Debit Credit (a) Construction Expenses Construction in Process Revenue from Long-Term Contracts (6) Loss from Long-Term Contracts Construction in Process