Recording Long-term Construction: Recognize Revenue at a Point in Time Mullen Construction contracted to build a municipal warehouse for the city of Dallas for sil25,000. The contract spectifed that the city would pay Mullen each month the progess bllings, less 10%, which was to be held as a retention reserve; At the end of the construction, the final payment would include the reserve Each billing less the ton reserve munt be paid within 10 days after submission of a billing to the city. Transactions relating to the contract follow. 2020 - Convtruction costs incurred during the year, 1220,000 , estimated costs to complete, $440,000, progress bating 1209,000 , and collections per the contrat, 2021 - Constructon costs incurred during the year, 5385,000 , estimated costs to complete, 5126,500 , progets billing, 53 , from the contract is appropriately recognized over time. 2022 - Constructisn costs incurred during the year, 5110.000. The remaining billings were suluritted ty Ocicber 1 , and final collections were completed on Noventer 30 . Requitred contrect is appropetately recognized at a point in time. Note: Do not round until your final answersy round your final answers to the nearest whole dollar. 2020 2021 b. Complete the following table