Larkspur Construction Company began work on a $403,500 construction contract in 2020. During 2020, Larkspur incurred costs of $263,000, billed its customer for $209,500, and collected $172,000. At December 31, 2020, the estimated additional costs to complete the project total $160,510. Prepare Larkspurs journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the completed-contract method.