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The company estimates that 3% of its sales will not be collected. They have already recorded sales of $100,000. How would you record the bad debts estimate? Use the Financial Template method. Cash [Choose] Accounts Receivable [ Choose] Allowance for Bad Debts [ Choose] Revenues 100,000 Bad debt expense Choose) If a customer declares bankruptcy and the company cannot receive the $500 the customer owed the company, how would this be recorded using the Financial Effects Template? cash [Choose ] Accounts Receivable [ Choose ] Allowance for Bad Debts [Choose ] Revenues [Choose ] Bad Debt Expense [Choose ]