During $2025,$ Sandhill Company started a construction job with a contract price of $$1,580,000.$ The job was completed in $2027.$ The Prepare all necessary journal entries for $2026.($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. For costs incurred use account

Materials, Cash, Payables. List all debit entries before credit entries.$)$

Account Titles and Explanation

Construction in Process

Accounts Payable

$($To record cost of construction.$)$

Billings on Construction in Process

Installment Accounts Receivable

$($To record progress billings.$)$

Debit

Credit $($To record progress billings.$)$

$($To record collections.$)$

$($To recor

$($To recognize revenue.$)$

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