How do you write 70600 in expanded notation?

Each of these is correct for 70,600:

1. (7 x 10000) + (0 x 1000) + (6 x 100) + (0 x 10) + (0 x 1)
2. (7 x 104) + (0 x 103) + (6 x 102) + (0 x 101) + (0 x 100)