Citation Builders, Incorporated, builds office buildings and single$-$family homes. The office buildings are constructed under contract with reputable buyers. The homes are constructed in developments ranging from $10-20$ homes and are typically sold during construction or soon after. To secure the home upon completion, buyers must pay a deposit of $10\%$ of the price of the home with the remaining balance due upon completion of the house and transfer of title. Failure to pay the full amount results in forfeiture of the down payment. Occasionally, homes remain unsold for as long as three months after construction. In these situations, sales price reductions are used to promote the sale. During $2024,$ Citation began construction of an office building for Altamont Corporation. The total contract price is $13$ million. Costs incurred, estimated costs to complete at year$-$end, billings, and cash collections for the life of the contract are as follows: $[[,,2024,,2025,,2026],[$Costs incurred during the year, $,2,600,000,,6,175,000,,2,925,000$