20 On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $76,000 and $4,000, respectively. During the year Kincaid reported $215,000 of credit sales. Kincaid wrote off $2.100 of receivables as uncollectible Year 2 Cash collections of receivables amounted to $271,100. Kincaid estimates that it will be unable to collect one percent of credit sales (8 0424 Kincaid's entry to recognize the write-off of the uncollectible accounts will Multiple Choice O decrease total assets and total equity increase total assets and decrease total equity not affect total assets or total equity there to search