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. Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry to estimate bad debts expense. 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. Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry to estimate bad debts expense