The following information relate to a road contract for 10,00,000. Materials issued Direct wages Direct expenses Indirect expenses Work certified Work not certified Materials at site Plant purchased Cash received from contractee 2018 3,00,000 2,30,000 22,000 6,000 7,50,000 8,000 5,000 14,000 6,00,000 2019 84,000 1,05,000 10,000 1,400 10,00,000 7,000 2,000 4,00,000 The values of plant at the end of 2018 and 2019 were 7,000 and 5,000 respectively. Prepare : (i) the contract account; and (ii) the contractee account, for the years 2018 and 2019 taking into consideration such profit for transfer to profit and loss account, as you think proper. [C.U., B.Com. (Hons.)]