Star Construction Corp. has a contract to construct a building for $$10,861,800.$ The building is controlled by the customer throughout the term of the contract. Total costs to complete the building were originally estimated at $$8,785,400.$ Construction commenced on $4$ February $20$X$5.$ Actual costs were in line with estimated costs for $20$X$5$ and $20$X$6.$ In $20$X$7,$ actual costs exceeded estimated costs by $$142,600.$

Total construction costs incurred in each year were as follows:

$20$X$5$ $ $2,678,400$

$20$X$6$ $ $4,464,000$

$20$X$7$ $ $1,785,600$

Billings $($and cash collections$)$ each year were as follows:

$20$X$5$ $ $2,281,500$

$20$X$6$ $ $4,860,600$

$20$X$7$ $ $3,719,700$

Questions attached. Please need answers for image $1$ and journal entries for all $5$ questions in image $2.$