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In its first year of operations, Cloudbox has credit sales of $ 2 3 4 , 0 0 0 . Its year - end balance
In its first year of operations, Cloudbox has credit sales of $ Its yearend balance in accounts recelvable is $ and the
company estimates that $ of its accounts recelvable is uncollectible.
a Prepare the yearend adjusting entry to estimate bad debts expense.
b Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $ Cash is $ and
Prepald Rent is $ Note: The company reports Accounts recelvable, net on the balance sheet.
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Prepare the yearend adjusting entry to estimate bad debts expense.
Journal entry worksheet
Record the yearend adjusting entry to estimate bad debts expense.
Note: Enter debits before credits.
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