On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $65,400 and $1,700, respectively. During the year, Kincaid reported $162,000 of credit sales. Kincaid also wrote off $1350 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $178,900. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. Kincaid's entry required to recognize the uncollectible accounts expense for Year 2 will: Multiple Choice 0 increase total assets and retained earnings. decrease total assets and increase retained earnings. increase total assets and decrease net income. 0 decrease total assets and net income