On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $73,800 and $3,500, respectively. During the year Kincaid reported $204,000 of credit sales. Kincaid wrote off $1.950 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $252,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. The amount of uncollectible accounts expense recognized in the Year 2 income statement will be: Multiple Choice $2,521 $2,040 $3,590 $738