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

question 154

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.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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Definitions:

Needs

The desire for something a person feels is worthwhile.

Referral Approach

A sales technique where existing customers are encouraged to refer new clients, leveraging existing relationships to gain new business.

Introductory Approach

The initial step in a sales process where the salesperson introduces themselves and their offering to a prospective client.

Multi-Question Approach

A sales technique that incorporates asking several targeted questions aimed at understanding the customer's needs and preferences.