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. 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. 1% Answer the following questions: (Use cell references from the given information above to complete these questions.) b. Assume that joey's alke shop uses the direct write-off method of accounting for uncollectible accounts. Answer the following questions: (Use cell references from the given information above to complete these questions.)