A landlord collected $8,000 cash from a tenant in December for December 2022's rent, but the tenant's rent for December is $10,000. The tenant will pay the additional $2,000 in January of 2023. In December, the landlord recorded the $8,000 cash payment with a debit to Cash and a credit to Rent Revenue, but ignored the fact that the tenant still owes $2,000.

Which of the following is true with respect to the landlord's financial statements for the year ended December 31, 2022?

	Net Book Value will be understated by $2,000.
	The financial statements will be correct.
	Cash and Total Revenues will both be understated by $2,000.
	Cash and Rent Revenue will be understated by $2,000.