In its first year of operations, Cloudbox has credit sales of $204,000. Its year-end balance in accounts receivable is $10,400, and the company estimates that $1,700 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 $23,000, Cash is $15,000, and Prepaid Rent is $3,100. 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 View journal entry worksheet No Date General Journal Debit Credit 1 December 31 Accounts payable 100 100 In its first year of operations, Cloudbox has credit sales of $204,000. Its year-end balance in accounts receivable is $10,400, and the company estimates that $1,700 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 $23,000, Cash is $15,000, and Prepaid Rent is $3,100. 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 current assets section of Cloudbox's classified balance sheet assuming Inventory is $23,000, Cash is $15,000, and Prepaid Rent is $3,100. Note: The company reports Accounts receivable, net on the balance sheet. CLOUDBOX Balance Sheet Assets Current assets Total current assets $ 0