Kieso, Intermediate Accounting, 12CE Volume 1 Help 1 System Announcements 002/4.38 GB CyberLink MACK NE Problem 6-10 Essan Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed price contract for $2.8 million beginning September 1, 2020, to build a road for a municipality. It has been estimated that the road construction will be complete by June 2022. The following data pertain to the construction period 2022 2021 2020 $800,000 $1,800,000 $2,350,000 1050,000 2,300,000 Costs to date 1,700,000 850,000 Estimated costs to complete Progress billings to date (non-refundable) Cash collected to date 2.800,000 2,800,000 700,000 2,200,000 Using the percentage-of-completion method, calculate the percent complete for 2020 and 2021. (Round answers to 2 decimal places, eg. 52.759%) 2021 2020 Percent complete SHOW LIST OF ACCOUNTS LINK TO TEX LINK TO TED Calculate the amount of revenue to be recognized in 2020 and 2021 2021 2020 Revenue to be recognized 1020 PM ENG