Ricky Inc received $3,700 from its tenant for rental of premises. However, this had been recorded as rent by Ricky Inc to its landlord over the same period. The appropriate journal entry to correct the error will include a:

Question 2 options:

1)	credit to Rent Expense of $3,700.

2)	debit to Premises of $5,400.

3)	credit to Rent Income of $5,400.

4)	debit to Bank of $3,700.