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Business, 14.11.2019 23:31 kelli151

On january 1, 2018, wellburn corporation leased an asset from tabitha company. the asset originally cost tabitha $300,000. the lease agreement is an operating lease that calls for four annual payments beginning on january 1, 2018, in the amount of $36,000.
the other three remaining payments will be made on january 1 of each subsequent year.

which of the following journal entries should tabitha record on january 1, 2018?

multiple choice:

1. cash 36,000
lease receivable 36,000

2. cash 36,000
deferred rent revenue 36,000

3.cash 36,000
rent revenue 36,000

4. cash 36,000
rent expense 36,000

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