In its first year of operations, Cloudbox has credit sales of $$238,000.$ Its year$-$end balance in accounts receivable is $$13,800,$ and the company estimates that $$3,400$ 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 $$31,500,$ Cash is $$23,500,$ and Prepaid Rent is $$3,950.$ Note: The company reports Accounts receivable, net on the balance sheet.

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Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $$31,500,$ Cash is $$23,500,$ and Prepaid Rent is $$3,950.$ Note: The company reports Accounts receivable, net on the balance sheet.

$\backslash$table$[[$CLOUDBOX$,],[$Balance Sheet,$],[$Assets$,],[$Current assets,$],[$Cash$,],[$Accounts receivable, net,$],[$Inventory$,],[$Prepaid rent,$],[,],[$Total current assets,$