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Noah Construction Company is building a large complex for a contract price of $5,000,000. This is a three-year project and the requirements for recognizing revenue over time are met. The total estimated cost of the project is $4,000,000 and the following information is avallable: Assuming that the conditions for revenue recognition over time were not met, which of the following entries would be made in Year 3 to record the completion and acceptance of the project? DR Inventory: Construction in progress $5,000,000CR Billings $5,000,000 DR Billings $1,250,000CR Inventory: Construction in progress $1,250,000 DR Inventory: Construction in progress $3,750,000 DR income on long-term construction contract $1,250,000 CR Billings $5,000,000 DR Billings $5,000,000CR Inventory: Construction in progress $3,750,000CR income on long-term construction contract $1,250,000