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For the year ended December 31, 2017, Lopez Company has implemented an employee bonus program based on Lopez's net income, which employees will share equally.

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For the year ended December 31, 2017, Lopez Company has implemented an employee bonus program based on Lopez's net income, which employees will share equally. Lopez's bonus expense is computed as $55,340. 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. View transaction list Journal entry worksheet

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