Cullumber Construction Company began work on a $$403,500$ construction contract in $2025.$ During $2025,$ Cullumber incurred costs of $$263,000,$ billed its customer for $$209,500,$ and collected $$172,000.$ At December $31,2025,$ the estimated additional costs to complete the project$-$total $$160,510.$

Prepare Cullumber's journal entry to record profit or loss, if any, using $($a$)$ the percentage$-$of$-$completion method and $($b$)$ the costrecovery 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 $0$ for the amounts. Round answers to $0$ 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$)$

$$

$$

$$

$($b$)$

$$

$$