On January 1,2015,Maranto Company Signed a Lease Agreement That Requires

On January 1,2015,Maranto Company signed a lease agreement that requires monthly payments of $1,000 at the beginning of every month for two years.Maranto Company paid $1,000 on January 1,2015.This is an operating lease.What journal entry is required by Maranto Company on January 1,2015?

A) debit Leased Asset $1,000 and credit Lease Obligation $1,000
B) debit Lease Expense $1,000 and credit Lease Obligation $1,000
C) debit Rent Expense $1,000 and credit Rent Payable $1,000
D) debit Rent Expense $1,000 and credit Cash $1,000