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For the year ended December 31, Lopez Company implements an employee bonus program based on...

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Accounting

For the year ended December 31, Lopez Company implements an employee bonus program based on company net income, which the employees share equally. Lopezs bonus expense is computed as $34,314. 1. & 2. Prepare the journal entries at December 31 to record the bonus due and later on January 19 to record payment of the bonus to employees.

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