Pronghorn Construction Company uses the percentage-of-completion method of accounting. In 2020, Pronghorn began work under contract with a contract price of $1,380,000. Other details follow: 2020 2021 Costs incurred to date $921,600 $1,260,000 Estimated costs to complete, as of December 31 358,400 -0- Billings to date 721,600 1,380,000 Collections to date 270,000 1,380,000 (a) What portion of the total contract price would be recognized as revenue in 2020? In 2021? Revenue recognized in 2020 $ Revenue recognized in 2021 $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above