Seasons Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion method. The contract calls for progress billings and payments of $5,000,000 each year. The total contract price is $15,000,000 and Seasons estimates total costs of $12,000,000. Seasons estimates that the building will take 3 years to complete, and commences construction on January 2, 2021. At December 31, 2021, Seasons estimates that it is 30% complete with the construction, based on costs incurred, which are consistent with the original estimate. Prepare the journal entries required in 2021, if any, to record construction costs, revenues, and billings