On December 19, 2021, Logo Incorporated, an accrual basis corporation, accrued $50,000 compensation expense for a routine year-end bonus payable to Mr. Craig, who is not considered a related party. Logo paid the $50,000 to Mr. Craig on April 25, 2022. Which of the following statements is true? Logo can only deduct the payment if the recurring item exception is elected Log can deduct the expense as bonus depreciation in either 2021 Or 2022 depending on the elections that it makes. Logo can deduct the accrued expense in 2021. Logo can't deduct the accrued compensation expense in 2021