ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbridgew.blackboard.com%252F. Q S1 Final Exam i Saved Help Save & E On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $73,800 and $3,500, respectively. During Year 2. Kincaid reported $204,000 of credit sales, wrote off $1,950 of receivables as uncollectible, and collected cash from receivables amounting to $252,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. What effect will recognizing the uncollectible accounts expense for Year 2 have on the elements of the financial statements? Multiple Choice O Increase total assets and retained earnings O Decrease total assets and increase retained earnings O Decrease total assets and net income Google Chrome Make $200 A Day O Increase total assets and decrease net income Ways To Make More Mc alpha-news.org Reply here to search O 9 P W 40F Sunny Home End Insert F2 F3 F10 # S 8 9 N W 4 5 6 Q E R U O P