ABC Construction Inc. entered into a contract with a customer to build a movable storage facility on January 1, 2020, for $1,200,000. ABC Construction Inc. owns the work in process and constructs this type of storage unit for a number of customers. The customer made a down payment of 10% of the project, with an additional 10% due at the end of year one and the remaining due when it takes control of the facility. The facility is expected to be completed in two years for a total cost of $960,000. Actual costs incurred through December 31, 2020, are $400,000. Determine the amount of revenue to record in 2020.

There are three criteria to help us judge whether revenue should be recognized over time or not. I think this revenue may be recognized in time.

please tell me the revenue should be recorded at a point in time or over time. Thanks.