On January 1, 2011, Chase Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $65,500 and $1,110 (credit), respectively. During the year Chase reported $141,100 of credit sales. Chase wrote off $2,200 of receivables as uncollectible in 2011. Cash collections of receivables amounted to $151,300. Chase estimates that it will be unable to collect five percent (5 % ) of credit sales.The amount of uncollectible accounts expense recognized in the 2011 income statement will be: Multiple Choice $7,055. $3,275 $10,200. $2,200