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Zion Company uses the allowance method to record uncollectible accounts. In January 20X1, it charged off the $450 account balance of Lexington as uncollectible. In
Zion Company uses the allowance method to record uncollectible accounts. In January 20X1, it charged off the $450 account balance of Lexington as uncollectible. In June 20X1, Lexington paid the entire amount charged off. What journal entries are made at the time of receipt of payment? debit Allowance for doubtful Accounts $450; credit Accounts Receivable/Lexington $450 debit Accounts Receivable/Lexington $450; credit Allowance for Doubtful Accounts $450 debit Cash $450; credit Accounts Receivable/Lexington $450 both b and c both a and c
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