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7. Net sales for the month are $800,000,000 and bad debts are expected to be 1.5% of net sales. The company uses the percentage-of-sales basis.

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7. Net sales for the month are $800,000,000 and bad debts are expected to be 1.5% of net sales. The company uses the percentage-of-sales basis. If Allowance for Doubtful Accounts has a credit balance of $15,000,000 before adjustment, what is the balance after adjustment? (2 points) $ 27.000,000 $ 15,000,000 $ 31,000,000 $ 23,000,000

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