During $2025,$ Crane Company started a construction job with a contract price of $$1,620,000.$ The job was completed in $2027.$ The following information is available.

Costs incurred to date; $2025-$ $$430,0002026-$ $$819,7502027-$ $$1,071,000$

Estimated costs to complete; $2025-570,0002026-273,2502027-0$

Billings to date; $2025-301,0002026-895,0002027-1,620,000$

Collections to date; $2025-272,0002026-807,0002027-1,433,000$

Prepare all necessary journal entries for $2026.$

Compute the amount of gross profit to be recognized each year, assuming the cost$-$recovery method is used