Todd operates a business using the cash basis of accounting. At the end of last year. Todd was granted permission to switch his sales on account to the accrual method Last year, Todd made $423,500 of sales on account, and $65,400 was uncollected at the end of the year. What is Todd's $481 adjustment for this year? Multiple Choice increase income by $423,500 Increase expenses by $65,400 Todd has no 5481 adjustment this year Increase expenses by $423.500 Increase income by $16.350