During 2023 , Sheridan Corporation started a construction job with a contract price of $4.34 million. Sheridan ran into severe technical difficulties during construction but managed to complete the job in 2025 . The contract is non-cancellable. Under the terms of the contract, Sheridan sends billings as revenues are earned. Billings are non-refundable. The following information is available: (a) (b1) Your answer is partially correct. Prepare the vear-end journal entries for 2024 to record revenues and expenses from the contract, assuming the percentage-ofcompletion method is used. (Credit account titles are outomatically indented when the omount is entered. Do not indent manuall x. If no entry is required, select "No Entry' for the occount titles and enter O for the amounts. (ikt all debit entries before credtt entries)