Assuming the same facts as those above except that Ivanhoe uses the cost-recovery method of accounting, what portion of the total contract price would be recognized as revenue in 2026 ? Revenue recognized in 2026$ Ivanhoe Construction Company uses the percentage-of-completion method of accounting. In 2025, Ivanhoe began work under contract \#E2-D2, which provided for a contract price of $2,237,000. Other details follow: What portion of the total contract price would be recognized as revenue in 2025? In 2026? (Do not round intermediate calculations.) Revenue recognized in 2025 \$ Revenue recognized in 2026 \$ Prepare a complete set of journal entries for 2025 (using the percentage-of-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 O for the amounts. For costs incurred use account Materials, Cash, Payables. List all debit entries before credit entries.)