On January 1, 2016, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $63,400 and $1,300, respectively. During the year Kincald reported $152,000 of credit sales. Kincald wrote off $1,200 of receivables as uncollectible in 2016. Cash collections of receivables amounted to $161,300. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales The amount of uncollectible accounts expense recognized in the 2016 Income statement will be: O $1,520. $634. $1,613. $1,200