Question: Exercise 9-11 Computing and recording bonuses LO P4 For the year ended December 31, 2017, Lopez Company has implemented an employee bonus program based on

Exercise 9-11 Computing and recording bonuses LO P4

For the year ended December 31, 2017, Lopez Company has implemented an employee bonus program based on Lopezs net income, which employees will share equally. Lopezs bonus expense is computed as $40,777. 1&2. Prepare the journal entry at December 31, 2017, to record the bonus due and January 19, 2018, to record payment of the bonus to employees.

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