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

question 49

Multiple Choice

Lynx Corp.
The data presented below for Lynx Corp.are for the year ended December 31,2017:
?
$$\begin{array} { l r } \text { Sales (100\% on credit) } & \$ 1,000,000 \\\text { Sales returns } & 30,000 \\\text { Accounts receivable (December 31,2017) } & 170,000 \\\text { Allowance for doubtful accounts (credit balance) } & \\\quad \text { (before adjustment at December } 31,2017 ) & 1,300 \\\text { Estimated amount of uncollectible accounts based on aging analysis } & 14,000\end{array}$$ ?
-See the data for Lynx Corp. If Lynx Corp.estimates its bad debt to be 1% of net credit sales,what will be the balance in Allowance for Doubtful Accounts after the adjustment for bad debts?

• A)$1,300
• B)$9,700
• C)$8,400
• D)$11,000

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Definitions:

Normative Commitment

A feeling of obligation to remain with an organization because of moral or ethical beliefs.

Time Employed

The duration or period an individual has been working in a particular job or organization.

Normative Commitment

A feeling of obligation to continue employment with an organization due to shared values and beliefs.

Affective Commitment

An employee’s emotional attachment to, identification with, and involvement in the organization.