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9) An apartment owner who uses the accrual method of accounting usually collects rent from tenants at the beginning of a month. Some payments are

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9) An apartment owner who uses the accrual method of accounting usually collects rent from tenants at the beginning of a month. Some payments are received prior to the beginning of the month for which they apply. At the beginning of a month, uneared rent (i.e., rent received in advance of being earned) amounted to $600. During the month, rent payments of $7,000 were collected from tenants. If the balance in the uneamed rent account was $350 at the end of the month, rent eamed (i.e., rent recognized as revenue) during the month amounted to: A) $6,750 B) $7,250 C) $7,350 D) $7,600 E) $7,950

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