In its first year of operations, Cloudbox has credit sales of $218,000. Its year-end balance in accounts receivable is $11,800, and the company estimates that $2,400 of its accounts receivable is uncollectible. 5 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 $26,500, Cash is $18,500, and Prepaid Rent is $3.450. Note: The company reports Accounts receivable, net on the balance sheet :48.10 Complete this question by entering your answers in the tabs below. oped Required A Required B Prepare the year-end adjusting entry to estimate bad debts expense. View transaction list Journal entry worksheet 1 Record the year-end adjusting entry to estimate bad debts expense. Note: Enter debits before credits. General Journal un | . Debit Date December 31 Credit