Question 42 (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 December 31 to record any resultant amortization? Debit: Amortization Expense, 600,000; Credit: Patent, 600,000 Debit: Amortization Expense, 60,000; Credit: Patent, 60,000 No entry--No amortization required. Debit: Amortization Expense, 600,000; Credit: Accumulated Amortization, 600,000