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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

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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