Late in 2017, Cruz Corp. realized that the estimate of uncollectible accounts expense that was made in formulating the 2016 financial statements was too low. How should Cruz account for this "change in estimate?" Revise (change) the previously issued 2016 financial statements. Account for the change in estimate "prospectively" by recognizing a higher amount of bad debt expense for 2017. Either of the above is permitted under GAAP. None of the above - changes in estimate are not permitted under GAAP