Ivanhoe Construction Company began work on a $$415,000$ construction contract in $2025.$ During $2025,$ Ivanhoe incurred costs of $$268,500,$ billed its customer for $$230,000,$ and collected $$181,500.$ At December $31,2025,$ the estimated additional costs to complete the project total $$154,135.$

Prepare Ivanhoe's journal entry to record profit or loss, if any, using $($a$)$ the percentage$-$of$-$completion method and $($b$)$ the costrecovery method. $($Credit acquint 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 Ofor the amounts. Round answers to O decimal places, eg$.5,275.$ List all debit entries before credit entries. Do not round intermediate calculations.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$($a$)$

$$

$$

$$

$$

$$

$$

$$

$$

$($b$)$

$$

$$

$$

$$

$$