The following data relate to a construction project of Construction Corporation that has a contract price of $200,000:

19A 19B Total Costs incurred $ 60,000 $ 90,000 $150,000 Billings 100,000 100,000 200,000 Collections 80,000 120,000 200,000 Estimated remaining costs at year-end 80,000 — —

Prepare entries for this information using the percentage-of-completion method. [Chapter 6]