Sunland Construction Company began work on a $418,500 construction contract in 2025. During 2025, Sunland incurred...

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Sunland Construction Company began work on a $418,500 construction contract in 2025. During 2025, Sunland incurred costs of $285,500, billed its customer for $233,000, and collected $172,000. At December 31, 2025, the estimated additional costs to complete the project total $155,765. Prepare Sunland's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the cost- recovery 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. Round answers to O decimal places, e.g. 5,275. List all debit entries before credit entries. Do not round intermediate calculations.) No. Account Titles and Explanation Debit Credit (a) Construction in Process (b) I Sunland Construction Company began work on a $418,500 construction contract in 2025. During 2025, Sunland incurred costs of $285,500, billed its customer for $233,000, and collected $172,000. At December 31, 2025, the estimated additional costs to complete the project total $155,765. Prepare Sunland's journal entry to record profit or loss, if any, using (a) the percentage-of-completion method and (b) the cost- recovery 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. Round answers to O decimal places, e.g. 5,275. List all debit entries before credit entries. Do not round intermediate calculations.) No. Account Titles and Explanation Debit Credit (a) Construction in Process (b) I