Jackson Co's year end is 31 December 20X0. In February 201 a major customer went into liquidation and the directors believe that they will not be able to recover the $450,000 owed to them. How should this item be treated in the financial statements of Jackson Co for the year ended 31 December 200 ? A The $450,000 should be disclosed by note as an irrecoverable debt B The financial statements are not affected at all C. The financial statements for 200 are not affected, but the balance should be written off in 201 D The financial statements should be adjusted to show the $450,000 as an irrecoverable debt