On October 1, Year 1, Jason Company paid $6,900 to lease office space for one year beginning immediately. What is the amount of rent expense that will be reported on the Year 1 income statement and what is the cash outflow for rent that would be reported on the Year 1 statement of cash flows? Multiple Choice $6,900; $6,900 $1,725; $1,725 $1,725; $6,900 $1,150; $6,900