2 Suppose contract No.240 has the following details as at 31 December, 2019: Material delivered to site GHC 440,000 Wages paid 225,000 Salaries and other costs 75,000 Plant sent to site at cost 950,000 Overheads 50,000 Materials on site 31/12/19 100,000 750,000 20,000 1,000,000 2,800,0000 Valuation of plant at 31/12/19 Wages accrued Value of work certified at 31/12/19 Contract price The agreed retention rate is 10% of the value of work certified by the Contractee's architects Required a. Prepare a Contract Account and a Contractee account for the year ended 31 December, 2019 (14 marks)