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Vermosa Corp. entered into a long-term construction contract for 3 years. The company estimated the cost of the construction is P9,600,000. The company billed its

Vermosa Corp. entered into a long-term construction contract for 3 years. The company estimated the cost of the construction is P9,600,000. The company billed its client at 125% of the estimated cost. Details are as follows: Total contract price in 2022 is 6,720,0009,600,00012,000,00011,840,000

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