On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $76,000 and $4,000, respectively. During the year Kincaid reported $215,000 of credit sales. Kincaid wrote off $2,100 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $271,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. Kincaid's entry to recognize the write-off of the uncollectible accounts will: Multiple Choice not affect total assets or stockholders' equity. increase total assets and decrease stockholders' equity. decrease total assets and stockholders' equity. increase total assets and stockholders' equity