5. On January1, Blue Manufacturing paid $42,000 for a patent. Although it gives legal protection for 20 years, the patent is expected to provide a competitive advantage for onty six years. Assuming the straight-line method of amortization, record the journal entry for amortization for Year 1 . (Record debits first, then credits Seloct the explanation on the last line of the journal entry table) \begin{tabular}{l} Date \\ \hline Doc 31 \\ To record amortization of patent. \\ To record impairment loss on patent. \\ To record purchase of patent \\ To record purchase of the company \end{tabular} 5. On January1, Blue Mandacturing paid $42,000 for a patont. Athough it gives legal protecticn for 20 years, the patent is expectod to provide a competitve advantage for only six years. Assaimin