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 th accrual method. Last year, Todd made $420,000 of sales on account, and $64,000 was uncollected at the end of the year. What is Todd's $481 adjustment for this year? Mutiple Choice Increase expenses by $420,000 Increase expenses by $64,000 Todd has no 5481 adjustment this year. Increase income by 5420.000