Question 4 (2 points) Sugar Pop Candies (SPC) uses the allowance method to record uncollectible accounts. At the end of December, 2021, the balance in accounts receivable is $60,000, and the balance in the allowance for doubtful accounts is $6,000. On December 31, management decided to write off a $2,000 uncollectible account from Hartt Convenience store. After the write-off entry is completed, the net balance of accounts receivables reported on the balance sheet is: $54,000 $56,000 $58,000 $60,000 Question 1 (2 points) A product and service are bundled together and sold to customers for $800. The fair values of the product and service are $550 and $450, respectively. Assuming that the product and service are separate performance obligations, the amount of revenue that should be assigned to the sale of the product is: $688 $440 $360 $450