Explain clearly pls

Part B (7 marks) A recent report for UPS contained the following data: (in thousands) Accounts receivable Less: Allowance for bad debts Net accounts receivable Current year $1,034,608 Previous year $ 805,495 8.22 S 767,270 36,800 $ 997,808 Bad debt expense $55,147 S31,388 Required: 1. Prepare the journal entry for the amount of accounts receivable that were actually written off during the current year. (3 marks) 2. Prepare the journal entry to record the bad debt expense for the current year (2 marks)