Cullumber Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed-price contract for $2.4 million beginning September 1, 2023, to build a road for a municipality. It has been estimated that the road construction will complete by June 2025. The following data pertain to the construction period. Costs to date 2023 2024 2025 $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 What is the balance in the contract asset and liability account at Dec 31 2023 and 2024