Cullumber Construction Inc., which has a calendar year end, has entered into a non$-$cancellable fixed$-$price contract for $$2\mathrm{.}4$ million beginning September $1,2023,$ to build a road for a municipality. It has been estimated that the road construction will be complete by June $2025.$ The following data pertain to the construction period.

$2023$

$2024$

$2025$

Costs to date

$$727,200$

$$1,452,000$

$$1,970,000$

$0$

Estimated costs to complete

$1,292,800$

$968,000$

Progress billings to date $($non$-$refundable$)$

$815,200$

$1,920,000$

$2,400,000$

Cash collected to date

$627,200$

$1,767,000$

$2,400,000$

$($g$)$Assume that Cullumber uses the zero$-$profit or completed$-$contract method. What would be the journal entry recorded on December $31,2024?($Credit account titles are automatically indented when the 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. List debit entry before$$credit$$entry$.)$