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please help me with this question During 2020, Sarasota Company started a construction job with a contract price of $1,610,000. The job was completed in

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During 2020, Sarasota Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available. 2020 2021 2022 $366,300 $772,100 $1,063,000 Costs incurred to date Estimated costs to complete 623,700 330,900 Billings to date 300,000 909,000 1,610,000 Collections to date 271,000 807,000 1.424,000 OPI e 9 A D I 9:14 PM 1120/20191 DELL Account Titles and Explanation Debit Credit Construction in Process 772100 Cash 772100 (To record cost of construction.) Accounts Receivable 909000 Billings on Construction in Process 909000 (To record progress billings.) Cash 807000 Accounts Receivable 807000 (To record collections.) Construction Expenses 772100 9:15 PM urses/26635/assignments/2658246 Google Se. Organizational Beh. Portland State Univ. Business Insights Flat World Result List: amazon... (To record collections.) Construction Expenses 772100 Construction in Process 265100 Revenue from Long-Term Contracts 507000 (To recognize revenue.) X Your answer is incorrect. Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used. 2020 2021 2022 Gross profit $ e Textbook and Media

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