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Only C pls Current Attempt in Progress Sunland Construction Company uses the percentage-of-completion method of accounting. In 2025, Sunland began work under a contract with

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Current Attempt in Progress Sunland Construction Company uses the percentage-of-completion method of accounting. In 2025, Sunland began work under a contract with a contract price of $1,400,000. Other details follow: (a) Your answer is correct. What portion of the total contract price would be recognized as revenue in 2025 ? In 2026? Revenue recognized in 2025$ Revenue recognized in 2026$ Assuming the same facts as those above except that Sunland uses the completed-contract method of accounting, what portion of the total contract price would be recognized as revenue in 2026 ? Prepare a complete set of journal entries for 2025 (using percentage-of-completion). (List all debit entries before credit entries. Credit account tittes are automatically indented when the 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. For costs incurred use account Materials, Cash, Payables)

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