In its first year of operations, Cloudbox has credit sales of $218,000. Its year-end balance in accounts receivable is $11,800, and the company estimates that $2,400 of its accounts receivable is uncollectible. a. Prepare the year-end adjusting entry to estimate bad debts expense. b. Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $26,500, Cash is $18,500, and Prepaid Rent is $3,450. Note. The company reports Accounts receivable, net on the balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the year-end adjusting entry to estimate bad debts expense. View transaction list Journal entry worksheet 1 04 7 Skipped Complete this question by entering your answers in the tabs below. pred Prepare the year end adjusting entry to estimate bad debts expense. Clieck Pa H look Journal entry worksheet References Record the year-end adjusting entry to estimate bad debts expense. Note: Emer des before credits Date December 31 General Journal Debit Credit bujosing enly to endte bad debts expense. b. Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $26,500, Cash is $18,500, and Prepaid Rent is $3,450. Note. The company reports Accounts receivable, net on the balance sheet Complete this question by entering your answers in the tabs below. Skipped Required A Required B Book Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $26,500, Cash is $18.500, and Prepaid Rent is $3,450. Note: The company reports Accounts receivable, net on the balance sheet. Hint Current assets CLOUDBOX Balance Sheet Assets eferences Total current assets