In 2021, the Miner Construction Company entered into a contract to construct a road for El Paso County for $15,000,000. The road was completed in 2023. Information related to the contract is as follows: 2021 2022 2023 Cost incurred during the year $3,108,000 $4,107,000 $4,273,500 Estimated costs to complete as of year-end 7,992,000 3,885,000 0 Billings during the year 3,240,000 3,975,000 7,785,000 Cash collections during the year 2,820,000 4,050,000 8,130,000 Miner recognizes revenue over time according to percentage of completion. Complete the necessary journal entries for 2021 to record construction costs, progress billings, cash collection and revenue recognition (credit "Various accounts for construction costs incurred)