Sandhill Construction Company uses the percentage-of-completion method of accounting In 2020, Sandhill began work under a non- cancellable contract #E2-D2, which provided for a contract price of $2,159,000. Other details follow: 2021 2020 $571,320 1,015,680 $1,446,000 0 Costs incurred during the year Estimated costs to complete, as at December 31 Billings during the year (non-refundable) Collections during the year 415,000 1,545,600 349,000 1,505,000 How much revenue should be recognized in 2020 and in 2021? 2020 2021 Revenue to be recognized $ $ eTextbook and Media List of Accounts Assuming the same facts as those above except that Sandhill uses the completed-contract method of accounting how much revenue should be recognized in 2021? 2021 Revenue to be recognized $ Prepare a complete set of journal entries for 2020. (using the percentage-of-completion method. Use Materials, Cash, Payables for costs incurred to date. (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 for the amounts.) Account Titles and Explanation Debit Credit (To record cost of construction) (To record progress billings) (To record collections) (To record revenues) (To record construction expenses)