Select the incorrect alternative in relation to the bad debts deduction of $525-35$ ITAA$97$:

A taxpayer accounting under the cash method may claim a deduction for bad debts.

The debt must be formally written off in the taxpayer's books in the year in which the deduction is claimed.

The detat to be written off must have been included in the taxpayer's assessable income in the current income year or in an earlier income year.

The detat munt be kreceverable before it can be regarded as a bad debt