Prepare all necessary journal entries for 2026. (Credit occount tities are automoticolly indented when amount isentered Do nok indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts for costs incurred tise docount Materials, Cash, Poyables. List all debit entries before credit entries) During 2025, Blossom Company started a construction job with a contract price of $1,590,000. The job was completed in 2027 . The following information is available. (a) Your answer is correct. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2025 Gross profit recognized in 2026 Gross profit recognized in 2027 Prepare all necessary journal entries for 2026. (Credit occount tities are automoticolly indented when amount isentered Do nok indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts for costs incurred tise docount Materials, Cash, Poyables. List all debit entries before credit entries) During 2025, Blossom Company started a construction job with a contract price of $1,590,000. The job was completed in 2027 . The following information is available. (a) Your answer is correct. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2025 Gross profit recognized in 2026 Gross profit recognized in 2027