Before $2023,$ Oriole accounted for its income from long$-$term construction contracts on the completed$-$contract basis because

it was unable to reliably measure the degree of completion or the estimated costs to complete. Early in $2023,$ Oriole changed to

the percentage$-$of$-$completion basis for financial accounting purposes. The change was a result of experience with the projects

and improved ability to estimate the costs to completion and therefore the percentage complete. The completed$-$contract

method will continue to be used for tax purposes. Income for $2023$ has been recorded using the percentage$-$of$-$completion

method. The following information is available:

Prepare the necessary journal entries at December $31,2023,$ to record the above corrections and changes as appropriate. The books are

still open for $2023.$ Because Oriole has not yet recorded its $2023$ income tax expense and payable amounts, you may ignore tax effects

for the current year. Oriole's income tax rate is $25\%.$ Assume that Oriole applies the taxes payable method of accounting for income

taxes. $($List all debit entries before credit entries. Credit account titles are automatically indented when the anount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

The company use ASPE.