Travis plic has an allowance for receivables of 83.250 on 1 January 2023 . During the year to 31 December 2023 the following events took place: 1. A cheque for 1,375 was recorded and correctly banked, but was returned unpaid on 27 December 2023 . No entries have yet been made for this retum. The directors wish to write the debt off as irrecoverablo. i. An allowance for receivables of $6,875 is required at the year end. iil. A cheque received for f1,050 in respect of an amouint written off in November 2023 was recorded in the cash at bank account but the suspense account was used to record the other side of the transaction. What joumal entries are required as at 31 December 2023 to account for the above issues? A. Debit: Cash at bank 1,050; irrecoverable debts expense 1,375 B. Debit: Irrecoverable debts expense 3,950; Suspense account 1,050 Credit: Cash at bank 1,375; Allowance for receivables 3,625 C. Debit: Irrecoverable debts expense 3,950; Suspense account 1,050 Credit: Cash at bank 3,625, Allowance for receivables 1,375 D. Debit: Cash at bank 1,050; Irrecoverable debts expense 87,200 Credit Allowance for receivables 56.875 ; Receivables 1,375