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Prepare the journal entry at January

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Reference no: EM132926258

Question - For the year ended December 31, 2017, Lopez company has implemented an employee bonus program based on Lopez's net income, which employees will share equally. Lopez's bonus expense is computed as $14,563.

-Prepare the journal entry at December 31, 2017, to record the bonus due the employees.

-Prepare the journal entry at January 19, 2018, to record payment of the bonus to employees.

Reference no: EM132926258

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