On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $64,000 and $1400, respectively. During the year Kincaid reported $155,000 of credit sales. Kincaid wrote off $1.250 of receivables as uncollectible In Year 2. Cash collections of receivables amounted to $166.700 Kincaid estimates that it will be unable to collect one percent (186) of credit sales. The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to $49,350. $51,050 $52.300 $49.500