Crane Construction Company began work on a $$400,500$ construction contract in $2025.$ During $2025,$ Crane incurred costs of $$269,500,$ billed its customer for $$230,500,$ and collected $$179,000.$ At December $31,2025,$ the estimated additional costs to complete the project total $$150,740.$

Prepare Crane's journal entry to record profit or loss, if any, using $($a$)$ the percentage$-$of$-$completion method and $($b$)$ the cost$-$recovery 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 $0$ for the amounts. Round answers to $0$ decimal places, e$.$g$.5,275.$ List all debit entries before credit entries. Do not round intermediate calculations.$)$

No$.$ Account Titles and Explanation

Debit

$($a$)$

Construction Expenses

Construction in Process

Revenue from Long$-$Term Contracts

$($b$)$ Loss from Long$-$Term Contracts

Credit

$]$

$$