George purchases goods from Jiff and also sells goods to Jiff. George has asked Jiff to offset the balances on the receivables ledger and payables ledger. George's records show receivables ledger balances and payables ledger balances are $200 and $150 respectively. What is the correct double entry for this transaction in George's records?
A.
Dr Payables ledger $150 Cr Receivables ledger $150
B.
Dr Receivables ledger $200 Cr Payables ledger $200
C.
Dr Payables ledger $200 Cr Receivables ledger $200
D.
Dr Receivables ledger $150 Cr Payables ledger $150