___16. On January 1, 2016, Jackie Co. signs a short-term lease with an annual interest rate of 12% and a present value of $4,502. The first monthly payment of $400 is made on January 1, 2016.  The correct January 1 journal entry would be.

?A. Debit Right-to-Use Asset $4,502; 

Credit Lease Liability $4,502

?B. Debit Rent Expense $400; 

Credit Lease Payable $400

C. Debit Prepaid Rent $400; 

Credit Cash $400

?D. no journal entry is made on January 1.