On February $1,2024,$ Kellers Fruity Construction Company entered into a three$-$year construction contract to build a bridge for a price of $$8,225,000.$ During $2024,$ costs of $$2,090,000$ were incurred, with estimated costs of $$4,090,000$ yet to be incurred. Billings of $$2,608,000$ were sent, and cash collected was $$2,340,000.$

In $2025,$ costs incurred were $$2,608,000$ with remaining costs estimated to be $$3,735,000.2025$ billings were $$2,858,000,$ and $$2,565,000$ cash was collected. The project was completed in $2026$ after additional costs of $$3,890,000$ were incurred. The company$$s fiscal year$-$end is December $31.$ This project does not qualify for revenue recognition over time.

Required:

$1.$ Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years.

$2$a$.$ Prepare journal entries for $2024$ to record the transactions described $($credit "Cash, Materials, etc." for construction costs incurred$).$

$2$b$.$ Prepare journal entries for $2025$ to record the transactions described $($credit "Cash, Materials, etc." for construction costs incurred$).$

$3$a$.$ Prepare a partial balance sheet to show the presentation of the project as of December $31,2024.$

$3$b$.$ Prepare a partial balance sheet to show the presentation of the project as of December $31,2025.$

I only need Req. $3$B and I can't figure out the accounts receivable and billings in excess of CIP amount. I got $293,000$ for the accounts receivable for Req $3$B but it's marked as wrong. The billings in excess of CIP I have no clue.