In completing the adjusting entries for the year 20x7 in early 20x8, the internal auditor discovered that a patent, with an estimated eight year life that was registered inJanwuary, 20x7 had not been amortized The patent cost $360,000, The income tax rate is 40%. What is the journal entry to correct the error before the 20x7 books are closed? A Patent 45,0C0 Income Taxes Receivable Retained Eamings 18,0C0 63,0EH B Aoriionpense 45,000 Income Taxes Payable Retained Eamings 18,000 27,000 C Amortization Expense 45,CE0 Patent 45,0C0 D. Amortization Expense 45,C00 Retained Eamings 45,0C0