On January 1 2018, Wellburn Corporation leased an asset from Tabitha Company. The asset originally cost Tabitha $360,000. The lease agreement is an operating lease that calls for four annual payments beginning on January 1 2018, in the amount of $40,000. 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 40,000 Cash Rent revenue 40,000 oces 40.000 Cash Lease receivable 40,000 40,000 Rent expense 40,000 10.000 Cash Deferred rent revenue 40.000