How should Mike account for the year ended 2029?

7. In December 2018, Mike wrote off an amount of $720 due from a customer who had become bankrupt. However, in January 2019, he unexpectedly received half of the amount due from that customer. Mike prepared his accounts to 31 December each year. How should Mike account for the year ended 2019? 5 (1 Point) A. As an accrual for $360 B. As sundry income of $360 in the statement profit and loss C. As a new receivable of $360 D. As a prepayment of $360