EXERCISES (56 Construction Company began a construction project on a building for P3,000,000. The project was completed during 2021. The accounting records disclosed the following: 2020 2021 Progress billings during the year P1,100,000 P1,900,000 Cost incurred during the year 900,000 1,800,000 Collections on billings during the year 700,000 2,300,000 Estimated cost to complete 1,800,000 What is the balance of construction in progress account at the end of the 2020 under percentage of completion method? What is the balance of construction in progress account at the end of the 2020 under zero prot method