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Connely Ltd. has an August 31 year end. On August 31, 2021, it declares a bonus of $250,000 payable to Ms. Sara Connely, the

Connely Ltd. has an August 31 year end. On August 31, 2021, it declares a bonus of $250,000 payable to Ms. Sara Connely, the founder of the Company. The bonus is payable on April 1, 2022. Describe the income tax consequences of this bonus to both Connely Ltd. and Ms. Sara Connely.

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