Question: Lynx Corp. The data presented below for Lynx Corp.is for the year ended December 31, 2016: Sales (100% on credit) $1,000,000 Sales retums 30,000 Accounts

Lynx Corp. The data presented below for Lynx Corp.is for the year ended December 31, 2016: Sales (100% on credit) $1,000,000 Sales retums 30,000 Accounts Receivable (December 31, 2016) 170,000 Allowance for Doubtful Accounts [Cr. Balance) (Before adjustment at December 31, 2016) 1,300 Estimated amount of uncollectible accounts based on aging analysis 14,000 4. See the data for Lynx Corp. If Lynx Corp.uses the aging of accounts receivable approach to estimate its bad debts, what will be the net realizable value of its accounts receivable after the adjustment for bad debt expense? a. $140,000 b. $156,000 c. $167,000 d. $184.000
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