Required information [The following information applies to the questions displayed below] Cheesesteak's Sandwich Shop had the following long-term asset balances as of January 1, 2024: Additional information: - Cheesesteak's purchased all the assets at the beginning of 2022. - The building is depreciated over a 20 -year service lfe using the double-declining-balance method and estimating no residual value. - The equipment is depreciated over a 8-year useful life using the straight-line method with an estimated residual value of $12,000. - The patent is estimated to have ofive-year service life with no residual value and is amortized using the straight-line method. - Depreciation and amortization have been recorded for 2022 and 2023 (first two years). 2. For the year ended December 31, 2024, record amortization expense for the patent. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field.) Journal entry worksheet Record amortization of the patent. Note: Enter debits before credits