TB MC Qu. 5-43 (Algo) On January 1, Year 2, Kincaid Company's... On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $73,200 and $3,400, respectively. During the year Kincaid reported $201,000 of credit sales. Kincaid wrote off $1,900 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $246,700. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to: Multiple Choice $23,590. $22,090. $27,500 $25,600