Please answer part below: Prepare a complete set of journal entries for 2025.

Pharoah Construction Company uses the percentage-of-completion method of accounting. In 2025, Pharoah began work under contract \#E2-D2, which provided for a contract price of $2,176,000. Other details follow: (a) Your answer has been saved. See score details after the due date. What portion of the total contract price would be recognized as revenue in 2025? In 2026? (Do not round intermediate calculations.) Revenue recognized in 2025$ Revenue recognized in 2026$ Your answer has been saved. See score details after the due date. Assuming the same facts as those above except that Pharoah uses the cost-recovery method of accounting, what portion of the total contract price would be recognized as revenue in 2026 ? Revenue recognized in 2026$ Prepare a complete set of journal entries for 2025 (using the percentage-of-completion method). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. For costs incurred use account Materials. Cash. Pavables. List all debit entries before credit entries.)