Turner, Inc. began work on a $7,200,000 contract in 2014 to construct an office building. During 2014, Turner, Inc. incurred costs of $1,700,000, billed its customers for $1,200,000, and collected $960,000. At December 31, 2014, the estimated future costs to complete the project total $3,300,000. Prepare Turners 2014 journal entries using the cost-recovery method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)