In 2020, ABS Construction Co. was contracted to building Village Company's private road network for F100,000,000. The project was estimated to be completed in two years and the contract provided for: a. 5% mobilization fee [to be deducted from the last billing] payable within 15 days after the signing of the contract; 10% retention provision on all billings, and b. Payment of progress billings within 10 days from acceptance. ABS, which uses the percentage of completion method of accounting, estimated a 25% gross margin on the project. By the end of 2020, ABS has presented progress billings corresponding to 50% of completion. All of the progress billings presented in 2020 were accepted except the last one for 10% weas accepted on january 5, 2021. With the exception of one bill for 8% which was due on Ianuary 1", 2021, all of the billings accepted in 2020 were settled. Payments made by Village Company in 2020 amounted to