On January 1, Year 1, Tenus Corporation purchased a patent from Marx Corporation by agreeing to make payments of $30,000 at the beginning of each year for the next six years, starting January 1 , Year 1 . Tenus could borrow money from the bank at a rate of 5 percent per year. The patent has a life of 10 years. Required: Make the journal entries to record the following: A. The purchase of the patent and the first payment B. Interest expense at the end of Year 1 C. Amortization expense on the patent at the end of Year 1 D. The payment of the second payment on January 1 , Year 2 E. Interest expense at the end of Year 2 F. Amortization expense on the patent at the end of Year 2 Note: There are many ways to calculate the present value of future amounts. You can useExcel to make the calculation, you can use the HP10B calculator, or you can use present value tables. If you prefer to use the latter method, this website has the tables you will need: https://www.principlesofaccounting.com/present-value-1/ Your answers to this open-ended assignment should be placed in the space below this line.