4) 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, unearned rent (i.c., rent received in advance of being camed) amounted to $700. During the month, rent payments of $8,000 were collected from tenants. If the balance in the unearned rent account was $400 at the end of the month, rent cared (1.c., rent recognized as revenue) during the month amounted to: A) $7,600 B) $7,700 C) $8,000 D) $8,300 E) $8,700