On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts cartied balances of $69,000 and $2,500. respectively. During Year 2, Kincaid reported $180,000 of credit sales, wrote off $1,600 of receivables as uncollectible, and collected cash from receivables amounting to $210,100. Kincaid estimates that it will be unable to collect one percent (1\%) of credit sales. What is the net realizable value of receivables that will be reported on Kincaid's Year 2 balance sheet? Multiple Choice $35,500 $37,300 $34,600 $38.900