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In its first year of operations, Cloudbox has credit sales of $228,000. Its year-end balance in accounts receivable is $12,800, and the: company estimates that $2,900 of its accounts recelvable 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 $29,000,C ash is $21,000, and Prepaid Rent is $3,700. Note. The company reports Accounts recelvable, net on the balance sheet. Journal entry worksheet Record the year-end adjusting entry to estimate bad debts expense. Note: Enter debits before credits. Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $29,000, Cash is $21,000, and Prepaid Rent is $3,700. Note: The company reports Accounts receivable, net on the balance sheet..

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In its first year of operations, Cloudbox has credit sales of $228,000. Its year-end balance in accounts receivable is $12,800, and the: company estimates that $2,900 of its accounts recelvable 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 $29,000,C ash is $21,000, and Prepaid Rent is $3,700. Note. The company reports Accounts recelvable, net on the balance sheet. Journal entry worksheet Record the year-end adjusting entry to estimate bad debts expense. Note: Enter debits before credits. Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $29,000, Cash is $21,000, and Prepaid Rent is $3,700. Note: The company reports Accounts receivable, net on the balance sheet.

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