Error: '[Bill Code] cannot be deleted because it is in use by one or more records in the program'

In Student Billing 7, when attempting to delete table entries from the Bill Code table in Configuration, users receive the following error:
Error: '[Bill Code] cannot be deleted because it is in use by one or more records in the program'

This error is received even when Bill Codes have been removed from all Records and Product and Billing Items in the system.
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Environment

 7.86.93, patch 1

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