Current Attempt in Progress Blue Construction Company uses the percentage-of-completion method of accounting. In 2020, Blue began work under contract #E2. D2, which provided for a contract price of $2,224.000. Other details follow: 2020 2021 $644,800 $1.417,000 -O- 967,200 Costs incurred during the year Estimated costs to complete, as of December 31 Billings during the year Collections during the year 424.000 2,224,000 351,000 1.519,000 (a) Your answer is correct. Prepare a complete set of journal entries for 2020 using the percentage-a-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 for the amounts. For costs incurred use account Material Cash Payables) Account Tities and Explanation Debit Credit con (To record cost of of construction) To record progress billings) (To record collection) SIT Sury