On July 1, 2005 Hawkeye Aviation leased two helicopters from Honeycutt Aircraft for an initial period of 12 months with a provision for a continuation on a month-to-month basis. The lease is properly classified as an operating lease. Lease payments are made as follows:

First two months........................... $8,000 per month

Second three months...................... $10,000 per month

Third three months.............................$ 12,000 per month

Last four months........................... $15,000 per month

After the first 12 months and thereafter.......... $6,000 per month

Provide the entries required to record the monthly lease payments for the first year on the books of Hawkeye Aviation properly recognizing monthly rent expense.