In its first year of operations, Cloudbox has credit sales of $$234,000.$ Its year$-$end balance in accounts receivable is $$13,400,$ and the company estimates that $$3,200$ 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$$s classified balance sheet assuming Inventory is $$30,500,$ Cash is $$22,500,$ and Prepaid Rent is $$3,850.$ Note: The company reports Accounts receivable, net on the balance sheet.