The Allowance for Bad Debts has a credit balance of $8000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging- of- receivables method, the company's management estimates that uncollectible accounts will be $15,000. What will be the amount of Bad Debts Expense reported on the income statement? $23,000 $7000 $15,000 $8000