0n Ianuary 1, 2021, Entity A granted a franchise to Entity E involving a food stall. The franchise agreement requires Entity B to pay nonrefundable initial franchise fee amounting to F000,000 within ten days from the signing of document evidencing the franchise agreement. Moreover. the franchise agreement requires Entity B to pay contingent franchise fee equivalent to 10% of its sales revenue to Entity A. Entity E paid the initial franchise fee on January 10, 2021. In relation to initial franchise fee. Entity It is required to render the following separate and distinct performance obligations: a. To construct the food stall ofEntity B which has standalone selling price ofi'500.000. h. To allow Entity B to use its registered trademark and tradename for a period of 20 years starting lanuary 1, 202 1 which has standalone selling price of P200,000. c. To supply 5,000 units ofraw materials to Entity B which has standalone selling price ofP300,000. 0n June 30, 2021, Entity completed the construction of Entity B's food stall. As of December 31, 2021, Entity has already delivered 2,000 units of raw materials to Entity B. Entity E commenced its operations on 0ctober 1, 2021 and it reported sales revenue amounting to 2330,000 for the period ended December 3 1. 2021 What is the total revenue to be recognized by Entity A for the period ended December 31, 2021