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6. Early Co. offers its employees a bonus equal to 2% of the company's net income. The estimated net income for the year is expected

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6. Early Co. offers its employees a bonus equal to 2% of the company's net income. The estimated net income for the year is expected to be $800,000. Additionally, Early Co pays its employees for two weeks of vacation each year. The total annual cost of the vacation benefit is $109,920. A. Prepare the journal entry to record the estimated employee bonus plan expense and the monthly accrued vacation expense

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