During its first year of operations, Pharoah Retail had credit sales of R$4,100,000, of which R$450,000 remained uncollected at year- end. The credit manager estimates that R$24,600 of these receivables will become uncollectible. Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Prepare the current assets section of the statement of financial position for Pharoah Retail, assuming that in addition to the receivables it has cash of R$88,000, merchandise inventory of R$180,000, and supplies of R$14,000. (List Current Assets in reverse order of liquidity.) PHAROAH COMPANY Balance Sheet (Partial)