5. MBC Construction, Inc. has the following data relating to its jobs in progress: Project A B D Actual cost P 17,512,000 22,914,000 107,730,000 45,600,000 Estimated total cost P350,240,000 30,552,000 143,640,000 91,200,000 Contract Price P384,000,000 35,000,000 175,000,000 99,400,000 P193,756,000 P615,632,000 P693,400,000 The company accounts for its jobs by the percentage of completion method. Billings are done at 30% down payment upon contract signing and the balance is billed according to the percentage of completion. 6. Compute for the amount of construction in progress (net) or progress billings (net) A. 140,100,000 current asset B. 140,100,000 current liability C. 67,920,000 current asset D. 67,920,000 current liability