Question 41 (2 points) Use the following information for item 41 and 42. On January 1, 2020, ASU Corporation spent $600,000 developing a new manufacturing process. The new process will be useful to ASU for 10 years. It has applied for a patent, and ASU believes that its application will be successful. What journal entry should ASU Corporation make on January 1 to record this expenditure? Debit: Building, 600,000; Cash, 600,000 Debit: R&D Expense, 600,000; Credit: Cash, 600,000 No entry required. Debit: Patent, 600,000; Credit: Cash, 600,000