Record the following events and transactions for Leonard Company for the current year.

1. On January 2, Leonard purchased a patent for $35,000 with a remaining useful life of 10 years. Prepare the journal entry to amortize the patent at the end of the first year.

2. On January 3, Leonard signed a contract to lease space in a building for 15 years. The current value of the lease payments is $840,000. Prepare the journal entry for straight-line amortization at the end of the first year.

3. On January 4, Leonard purchased a music distributor's collection of lyrics and songs for $1,425,000. The copyrights have a remaining life of another 30 years. Prepare the journal entry to amortize the copyright at the end of the first year.