Larkspur Construction Company began work on a $400,000 construction contract in 2020 . During 2020 , Larkspur incurred costs of $257,000, billed its customer for $221,500, and collected $176,000. At December 31,2020 , the estimated additional costs to complete the project total $158,185. Prepare Larkspur's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completedcontract 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 O for the amounts. Round answers to 0 decimal places, e.g. 5,275