On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $76,000 and $4,000, respectively. During the year Kincaid reported $215,000 of credit sales. Kincaid wrote off $2,100 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $271,100. 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 increase total assets and decrease net income O increase total assets and retained earnings O decrease total assets and net income. O O decrease decrease total assets and increase retained earnings