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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. Lopez's bonus

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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. Lopez's bonus expense is computed as $40,777 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. Journal entry worksheet 2 Record the bonus due to the employees at December 31. Notel Enter debits before credits. Journal entry worksheet Record the payment of bonus to the employees. Note: Enter debits before credits

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