Ambiguous terminology in income statement

Steps:

• Opening rent receivable: $600 debit (tenant arrears).
• Rent earned/billed during year: unclear, as "rent receivable for year $950" on income statement is non-standard (income statement shows income, not receivable).
• Cash received: $850 credit to receivable.
• Closing balance: cannot compute precisely without clarifying if $950 is income, billed amount, or closing receivable.

Why A is correct:

• Not enough information to confirm, but A assumes $950 as billed rent with adjusted receipts clearing arrears for$150 debit remainder.

Why the others are wrong:

• B: Credit balance would imply overpayment exceeding total due, not supported.
• C: $350 credit overstates overpayment.
• D: $350 debit understates unpaid amount.

Final answer: Not enough information.