Prapars all nacessary journal antries for $2024.($Use Matarials, Cash, Payables for coats incurrad to date.$)($Credit account titles 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. List all debit entries before credit entries.$]$

Account Titles and Explanation

Debit

Credit

$($To record cast af canstruction$)$

$($To record progress bilings$)$

$($To record colections$)$

$($To record revenues$)$

$($To record construction experses$)$During $2023,$ Carla Vista Company started a construction job with a contract price of $$1,440,000.$ The job was completed in $2025.$ The

following information is available. The contract is non$-$cancellable.

$(a)$

Calculate the amount of gross profit to be recognized each year, assuming the percentage$-$of$-$completion method is used. $($Enter

negative amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$