Government Department for the construction of four stories office building. The cost, billing and other  information is as under:

	2010	2011	2012	Total
	Rs in thousands	Rs in thousands	Rs in thousands	Rs in thousands
Construction Cost	52,000	48,000	70,000	170,000
Billings	45,000	55,000	90,000	190,000
Cash Collection	40,000	58,000	92,000	190,000

Required:

i. Journal entries to record the above transaction using completed contract method. Also draw partial  balance sheet of Faisal Construction Co. to show the balances of construction cost and billing.

ii. Journal entries to record transactions in the employer’s books.

iii. Draw up the construction in progress account and Billing Contract account and also show the final  journal entry to close the accounts in 2012.