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On January 1. 2018. Wellburn Corporation leased an asset from Tabitha Company. The asset originally cost Tabitha $390.000. The lease agreement is an opersting lease
On January 1. 2018. Wellburn Corporation leased an asset from Tabitha Company. The asset originally cost Tabitha $390.000. The lease agreement is an opersting lease that calls for four annual payments beginning on January 1. 2018. in the amount of $35,000. 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? Multple Choice Lease receivable 35 cash 35,8e9 ash 35,089 Deferred rent revenue Cash 35,083 Rent revenue
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