eBook Calculator Effect of Doubtful Accounts on Net Income During its first year of operations, Mauming Supply Co. had sales of $450,000, wrote off $7,000 of accounts as uncollectible using the direct wite-off method, and reported net income of $49,500 Assume that during the second year of operations Mack's Plumbing Supply Co had sales of $40,000, wrote off $8,400 of accounts as uncollectible using the direct write-off method, and reported net income of $54,000 a. Determine what net income would have been in the second Year if the allowance method using 15% of sales) had been used in both the first and second years. b. Determine what the balance of the allowance for doubtful accounts would have been at the end of the second year the slowance method had been used in both the first and second years. It required, use the minus sign to indicate a debit" balance et > All Work Save Some Tent for Grading de 421 PM WI HP 20