In 2021. ABC Company agreed to construct a commercial building at a price of P7.500.000. ABC uses the percentage of completion method. The information relating to the costs and billings for the contract were as follows: 2021 2022 2023 Cost incurred to date P2.100.000 P4,500,000 P5,887.500 Estimated cost to complete 3.900.000 1.500.000 0 Progress bilings to date 1.125.000 3.000.000 7.500.000 Collection to date 900.000 2.400,0007,050.000 How truch is the contract asset (ability) as of December 31, 2022 using View 1 of the PIC? P2.625.000 P2.525.000 OPISODIO P1.500.000