The Data Presented Below for Lynx Corp -See the Data for Lynx Corp

question 164

Multiple Choice

The data presented below for Lynx Corp.is for the year ended December 31, 2016: $$\begin{array} { l r } \text { Sales (100\% on credit) } & \$ 1,000,000 \\\text { Sales returns } & 30,000 \\\text { Accounts Receivable (December 31,2016) } & 170,000 \\\text { Allowance for Doubtful Accounts [Cr. B alance] } & \\\quad \text { (Before adjustment at December 31, 2016) } & 1,300 \\\text { Estimated amount of uncollectible accounts based on aging analysis } & 14,000\end{array}$$
-See the data for Lynx Corp. If Lynx Corp.estimates its bad debts at 1% of net credit sales, what amount will be reported as bad debt expense for 2016?

• A) $9,560
• B) $9,700
• C) $1,700
• D) None of these choices

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Definitions:

Languages

Systems of communication used by people comprising of symbols, sounds, and rules for combining them.

Babbling

Early stage of language development in infants, characterized by repetitive syllabic sounds that precede actual language acquisition.

Phonemes

The tiniest sound parts in a language that serve to distinguish between words.

Discomfort

A mild form of physical or psychological pain that may result from a variety of causes, ranging from sitting in one position for too long to social embarrassment.