27. Newton Company uses the allowance method of accounting for uncollectible accounts On May 3, the Newton Company wrote off the $3,000 uncollectible account of its customer, P. Best. On July 10, Newton received a check for the full amount of $3,000 from Best. On July 10, the entry or entries Newton makes to record the recovery of the bad debt IS: 3,000 A. Accounts Receivable - P. Best Allowance oubtful 3,000 Accounts 3,000 Cash Accounts Receivable- P. Best 3,000 B. Cash 3,000 Bad debts expense 3,000 C. Accounts Receivable - P. Best 3,000 Bad debts expense 3,000 Cash 3,000 Accounts Receivable P. Best 3,000 D. Allowance for Doubtful Accounts 3,000 Accounts Receivable - P. Best 3,000 Accounts Receivable- P. Best 3,000 Cash 3,000 E. Cash 3,000 Accounts Receivable -P. Best 3,000 8. The allowance method based on the idea that a given percent of a company's c