Kesto Construction Lid is engaged on two contracts PALAPYE and MAHALAPYE during the year. The following particulars are obtained at the year end Dec 31. CONTRACT CONTRACT PALAPYE MAHALAPYE Date of commencement January 1 September 1 Contract price 600 000 500 000 Material issued 160 000 60 000 Material returned 4 000 2 000 Material on site (Dec 31) 22 000 8 000 Direct labour 150 000 42 000 Direct expense 66 000 35 000 Establishment expenses 25 000 7 000 Plant installed at cost 80 000 70 000 Value of plant (Dec 31) 65 000 64 000 Cost of contract not yet certified 23 000 10 000 Value of contract certified 420 000 135 000 Cash received from contracts 378 000 125 000 Architect fees. 2 000 1 000 During the period the period materials amounting to P9 000 have been transferred from contract PALAPYE to contract MAHALAPYE. REQUIRED: (a) Contract Accounts (16 Marks) (b) Contractees' Accounts (4 Marks)