Kingbird Inc. began work on a $11,100,000 non-cancellable contract in 2020 to construct an office building. During 2020 , Kingbird Inc incurred costs of $1,472,000, billed its customers for $1,150,000 (non-refundable), and collected $1,020,000. At December 31, 2020, the estimated future costs to complete the project totalled $3,128,000. Prepare Kingbird's 2020 journal entries using the percentage-of-completion method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (To record cost of construction) Accounts Receivable 1150000 Revenue from Long-Term Contracts 1150000 (To record progress billings) Cash 1020000 Accounts Receivable (To record collections) \begin{tabular}{|l|} \hline 1472000 \\ \hline \hline \end{tabular} (To record revenues) Revenue from Long-Term Contracts 3552000 (To record construction expenses)