What would the journal entries for the following contract be using the completed contract and percentage of completion methods?

Stoney Run Construction Company (US GAAP) enters into a 3-year contract to build a new warehouse facility. Information for Years 1, 2, and 3 is shown below:

Year 1:

• Sale Price: $2,800,000
• Estimated costs: $1,600,000
• Costs incurred to date (paid in cash): $400,000
• Billed to date: $250,000
• Received in cash to date $190,000

Year 2:

• Sale Price: $2,800,000
• Estimated costs: $2,000,000
• Costs incurred to date (paid in cash): $900,000
• Billed to date: $1,150,000
• Received in cash to date $950,000

Year 3:

• Sale Price: $2,800,000
• Estimated costs: $2,000,000
• Costs incurred to date (paid in cash): $2,000,000
• Billed to date: $2,800,000
• Received in cash to date $2,800,000