ABC Co., a consulting firm, wins a competitive bid to provide consulting services to a new customer. ABC Co. incurred the following costs to obtain the contract: External legal fees for due diligence 15,000 Travel costs to deliver proposal 25,000 Commissions to sales employees 10,000 ABC Co. also pays discretionary annual bonuses to sales supervisors based on annual sales targets, overall profitability of the entity and individual performance evaluations. Total bonuses earned by sales employees to date amounts to 2,000. It is probable that this amount will not reverse by year-end. How much is recognized as (1) asset and how much is (2) expensed outright? 0 52,000 c. 10,000 42,000 2,000 50,000 d. 35,000 17,000