For the year ended December 31, Lopez Company implements an employee bonus program based on company net income, which the employees share equally. Lopezâs bonus expense is computed as $40,777. 1. & 2. Prepare the journal entry at December 31 to record the bonus due and January 19 to record payment of the bonus to employees.
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Home » Business » For the year ended December 31, Lopez Company implements an employee bonus program based on company net income, which the employees share equally. Lopezâs bonus expense is computed as $40,777. 1. & 2.