Becky had net sales (all on account) in 2020 of $8,000,000. At December 31, 2020, before adjusting entries, the balances in selected accounts were:

accounts receivable $1,000,000 debit, and allowance for doubtful accounts $2,000 debit.

Becky estimates that 3% of its accounts receivable will prove to be uncollectible.

What is the net amount expected to be collected of the receivables reported on the financial statements at December 31, 2020?