2 Joey's Bike Shop sells new and used bicycle parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. 3 During Year 1 , its first year of operations, Joey's Bike Shop experienced the following. 9 Required: a. Assume that Joey's Bike Shop uses the allowance method of accounting for uncollectible accounts and estimates that 1 percent of its sales on account will not be collected. 1% 12. Answer the following questions: 13 14 Note: Use cell references from the given information above to complete these questions. A 8 CDEFGH During Year 1, its first year of operations, Joey's Bike Shop experienced the following. Required: a. Assume that Joey's Bike Shop uses the allowance method of accounting for uncollectible accounts and estimates that 1 percent of its sales on account will not be collected. Answer the following questions: Note: Use cell references from the given information above to complete these questions. b. Assume that Joey's Bike Shop uses the direct write-off method of accounting for uncollectible accounts. Answer the following questions: Note: Use cell references from the given Information above to complete these questions. b. Assume that Joev's Bike Shop uses the direct write-off method of accounting for uncollectible accounts. Answer the following questions: 3 Note: Use cell references from the given information above to complete these questions