Splish Construction Company uses the percentage-of-completion method of accounling. In 2020. Splish began work under contract #E2-D2, which provided for a contract price of $2.191,000. Other details follow: 2020 2021 Costs incurred during the year $596,440 $1,421,000 Estimated costs to complete, as of December 31 1,015,560 0 Billings during the year 412,000 2,191,000 Collections during the year 346,000 1,501.000 What portion of the total contract price would be recognized as revenue in 2020? In 2021? Revenue recognized in 2020 s Revenue recognized in 2021 Assuming the sarne facts as those above except that Splish uses the completed-contract method of accounting, what portion of the total contract price would be recognized as revenue in 2021? Revenue recognized in 2021 s Prepare a complete set of journal entries for 2020 (using the percentage-of-completion method). (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 o for the amounts. For costs incurred use account Materials, Cash, Payables.) Account Titles and Explanation Debit Credit (To record cost of of construction.) (To record progress billings.) (To record collections.) (To recognize revenue