M8-5 (Static) Recording Write-Offs and Bad Debt Expense Using the Allowance Method [LO 8-2] Required: Prepare journal entries for each transaction listed, (If no entry is required for a transaction/event, select "No Joumal Entry Required" In the first account field.) a. At the end of June, bad debt expense is estimated to be $14,000. b. In July, customer balances are written off in the amount of $7,000. Journal entry worksheet Record the estimated bad debt expense of $14,000. Notei Enter debits before credits. a. At the end of June, bad debt expense is estimated to be $14,000. b. In July, customer balances are written off in the amount of $7,000. Journal entry worksheet Record th customer balances written off in the amount of $7,000. Note: Enter debits before credits