On January 1, 2018, Wellburn Corporation leased an asset from Tabitha Company. The asset originally cost Tabitha $450,000. The lease agreement is an operating lease that calls for four annual payments beginning on January 1, 2018, in the amount of $33,000. 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

Cash	33,000
Lease receivable		33,000

Cash	33,000
Rent expense		33,000

Cash	33,000
Deferred rent revenue		33,000

Cash	33,000
Rent revenue		33,000