On January 1, Year 2, Kin caid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried bala nces of $71.800 and $3,100, respectively, During the year Kincaid reported $194,000 of credit sales. Kincaid wrote off s receivables as uncollectible in Year 2. Cash collections of receivables amounted to s unable to collect one percent (1%) of credit sales. 234,500. Kincaid estimates that it will be Ki ncaid's entry to recognize the write-off of the uncollectible accounts will Multiple Choice increase total assets and decrease total equity not affect total assets or total equity decrease total assets and total equity