In its first year of operations, Cloudbox has credit sales of $228,000. Its year-end balance in accounts receivable is $12,800, company estimates that $2,900 of its accounts receivable is uncollectible - 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 $29,000, Cash is $21,000 Prepaid Rent is $3,700. 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