Awan Berhad is a construction company located in Petaling Jaya. At the end of 2015, Awan Berhad entered into a contract to construct an office building for RM 1,250,000. Construction began in 2016 and completed in 2017. Cost and other information regarding the project are presented below: 2016 RM 2017 RM 750,000 650,000 600,000 0 Kos tertanggung dalam tahun semasa Cost incurred during the year Anggaran kos untuk siap/ Estimated costs to complete Bil tahun semasal Billings during the year Kutipan tunai tahun semasal Cash collections during the year 600,000 650,000 500,000 750,000 Assume that Awan Berhad satisfies the criteria to recognize revenue over time in accordance with MERS 15 Revenue from contracts with customers and uses the percentage-of-completion method for revenue recognition. Compute the amount of gross profit recognized during 2016 and 2017. Show all computations. Prepare all journal entries to record costs, billings, collections, and profit recognition. Round your answers to the nearest ringgit