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

question 151

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.uses the aging of accounts receivable approach to estimate its bad debts,what amount will be reported as bad debts expense for 2017?

• A)$12,700
• B)$13,700
• C)$14,000
• D)$15,300

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Definitions:

Confederacy

Refers to the Confederate States of America, a collection of 11 southern states that seceded from the United States from 1860-1865, leading to the American Civil War.

Navajo Men

Members of the Navajo Nation, a Native American tribe primarily residing in the southwestern United States, known for their rich cultural heritage.

Union Army

The land force that fought for the Union (the Northern states) during the American Civil War, primarily against the Confederate Army of the Southern states.

Forced to Fight

A situation where individuals are compelled to engage in combat or conflict, often through conscription, coercion, or as a condition of enslavement.