1. Review: In 2020, Arendelle Corp. began a three-year, long-term construction project that qualified for revenue recognition over time. Arendelles customer agreed to pay $400,000. By the end of 2020, Arendelle had spent $70,000 on the project and expected to spend an additional $210,000 over the next two years. Arendelle measures progress toward completion based on costs incurred. How much revenue will Arendelle report on the project in its 2020 income statement? (just enter the number, without any commas or a dollar sign)

2.Wakanda Corp. began operations in January 2020. During the first quarter, Wakanda made $180,000 of inventory purchases from suppliers and had sales to customers totaling $300,000. One half of the sales were cash sales, and the other half were credit sales, where customers have 90 days to pay the account. By the end of the first quarter, none of these customers had paid their accounts. Wakanda estimates that 90% of its credit sales will eventually be collected while the remaining 10% will default. What amount will Wakanda report for Accounts Receivable on its first-quarter balance sheet? (just enter the number, without any commas or a dollar sign)