John is selling his rental property to Jack. The monthly income is $1,000 per month. The closing is June 20 and the buyer is to receive the rent for that day. The entries on the settlement statement will be:
a) $1,000 credit to John, $1,000 debit to Jack
b) $500 credit to John, $500 debit to Jack
c) $1,000 credit to John, $500 debit to Jack
d) $500 credit to John, $1,000 debit to Jack