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Texas Custom Homes (TCH) constructed a new subdivision during 2023 and 2024 under contract with Oberst Development Company. Relevant data are summarized below: TCH recognizes revenue over time with respect to these contracts. What would be the journal entry made in 2023 to record revenue? Multiple Choice \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts receivable & 1,500,000 & \\ \hline Revenue from long-term contracts & & 1,500,000 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline Construction in progress & 800,000 & \\ \hline Cost of construction & 1,200,000 & \\ \hline Revenue from long-term contracts & & 2,000,000 \\ \hline \end{tabular}