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 $67,600 and $2,200, respectively. During the year Kincaid reported $173,000 of credit sales. Kincaid wrote off $1,500 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $197,900. Kincaid estimates that it will be unable to collect one percent (1\%) of credit sales. The net realizable value of recelvables appearing on Kincald's Year 2 balance sheet will amount to: Multiple Choice 539,470 538.770 $42700. $41,200