Crane Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion method. The contract calls for progress billings and payments of $1500000 each quarter. The total contract price is $18546000 and Crane estimates total costs of $17700000. Crane estimates that the building will take 3 years to complete and commences construction on January 2,2024. At December 31,2024 , Crane estimates that it is 20% complete with the construction, based on costs incurred. What is the total amount of Revenue from Long-Term Contracts recognized for 2024 and what is the balance in the Accounts Receivable account assuming Cannon has not yet made its last quarterly payment