On December 31, 2016 before adjusting entries, Accounts Receivable for Nickolas Company had a debit balance of $200,000, and the Allowance for Doubtful Accounts had a credit balance of $6,000. Credit sales for the year were $1, 600,000. If credit losses are estimated at 1% of credit sales: The balance of the Allowance for Doubtful Accounts will be $10,000 after adjustment. The balance of the Allowance for Doubtful Accounts will be $22,000 after adjustment. The balance of the Allowance for Doubtful Accounts will be $16,000 after adjustment. Bad Debts Expense for the year will be $22,000.