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Could you please help me with this problem On March 2020, George Construction Company entered into a fixed price contract to construct a commercial building

Could you please help me with this problem

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On March 2020, George Construction Company entered into a fixed price contract to construct a commercial building for P30,000,000. George appropriately accounts this contract under the percentage- of-completion method. Information relating to the contract is as follows: 2020 2021 Percentage-of-completion 20% 60% Estimated costs at completion P22,500,000 P24,000,000 Income recognized-cumulative 1,500,000 3,600,000 What is the amount of contract costs incurred during the year ended December 31, 2021

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