Cullumber, Inc. began work on a \$7,465,000 contract in 2025 to construct an office building. During 2025, Cullumber, Inc. incurred costs of $1,720,960, billed its customers for $1,293,000, and collected $1,051,000. At December 31,2025 , the estimated additional costs to complete the project total $3,657,040. Prepare Cullumber's 2025 journal entries using the percentage-of-completion method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For costs incurred use account Materials, Cash, Payables. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)