7. Clarion Limited is preparing its financial statements for the year ended 30 June 2021. Its initial trial balance includes the following: A debit balance on the rent account of 5,000. This comprises cash paid in the year 5,300 and an accrual carried forward at 1 July 2020 of 300. Included in the 5,300 was the latest bill which was paid on 20 June 2021 for 1,200 and related to the three month period ending 31 August 2021. In the income statement what will the figure for rent be? a) 4,200 b) 4,500 c) 5,300 d) 5,000