Tech Co. purchased a patent for $50,000 on January 1, Year 1. The patent is estimated to have a useful life of 20 years and no salvage value. The journal entry to record the second year of amortization includes which of the following options?

Debit Patent $2,500

Debit Amortization Expense $2,500

Credit Accumulated Amortization $2,500

Debit Amortization Expense $50,000