The chief accountant for Oriole Corporation provides you with the following list of accounts receivable written off in the current year. Oriole 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 Oriole's sales are on a 30-diy credit basis. Sales for the current year total $2,200,000. The balance in Accounts Receivable at year-end is $90,100 and an analysis of customer risk and charge off experience indicates that 12% of receivables will be uncollectible (assume a zero balance in the allowance). (b) By what amount would income before taxes differ if bad debt expense was computed using the percentage-of receivables approach? Net income would be 5 under the percentage-of-receivables approsh