on january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $71,000 and $2,900, respectively. during year 2, kincaid reported $190,000 of credit sales, wrote off $1,750 of receivables as uncollectible, and collected cash from receivables amounting to $227,700. kincaid estimates that it will be unable to collect one percent (1%) of credit sales. what effect will the entry to recognize the uncollectible accounts expense for year 2 have on the elements of the financial statements?