In its first year of operations. Cloudbox has credit sales of $204,000. its year-end balance in accounts recelvable 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 Prepald 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. Prepare the year end adjusting entry to estimate bad debts expense. Prepare the year-end adjusting entry to estimate bad debts expense, Journal entry worksheet Record the year-end adjusting entry to estimate bad debts expense. Note: Enter detits before credits. 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 liventory is $23,000, Cash is $15,000, and Prepaid Rent is $3.100. Nore The company reports Accounts receivable, net on the balance sheet. Complete this question by entering your answers in the tabs below. Prepare the current assets section of Clovdbax's classified balance sheet assuming Inventory is $73,000, Cash is $15,000, and Prepaid Rent is $3,100. Note: The company reports Acrounts receivable, net on the balance sheet