Moore Contractors received a contract to construct a hockey facility for $2,750. Construction began in 2020 and was completed in 2021. Cost and other data are presented below: 2020 2021 Costs incurred during the year $1,900 $1,700 Estimated costs to complete 1,400 0 Billings during the year 1,375 1,375 Cash collections during the year 1,275 1,475 1. Compute the amount of revenue and gross profit to be recognized during 2020 and 2021, assume that Moore recognizes revenue (a) over time and (b) at a point in time. Round your answers to the nearest whole dollar. 2. Assume that Moore recognizes revenue on this contract over time. Prepare a complete set of journal entries for 2020 and 2021. Round your answers to the nearest whole dollar. 3. Assume that Moore recognizes revenue on this contract at a point in time. Prepare a complete set of journal entries for 2020 and 2021 Round your answers to the nearest whole dollar.