The chief accountant for Flint Corporation provides you with the following list of accounts receivable written off in the current year. Date Customer March 31 June 30 September 30 December 31 E. L. Masters Company Stephen Crane Associates Amy Lowell's Dress Shop R. Frost, Inc Amount $8,150 7,900 7,510 9,560 Flint follows the policy of debiting Bad Debt Expense as accounts are written off. The chief accountant maintains that this procedure is appropriate for financial statement purposes because the Internal Revenue Service will not accept other methods for recognizing bad debts All of Flint's sales are on a 30-day credit basis. Sales for the current year total $2,345,400. The balance in Accounts Receivable at year-end is $74,900 and an analysis of customer risk and charge-off experience indicates that 9% of receivables will be uncollectible (assume a zero balance in the allowance) (b) By what amount would net income differ if bad debt expense was computed using the percentage-of-receivables approach? Assume that accounts written off were for sales in a prior year 77966 lowe Net income would be $ under the percentage-of-receivables approach