On December $31,$ Barrera Company estimates that it will pay its employees a $3\%$ bonus on net income after deducting the bonus. The company reports net income of $ $36$ comma $000$ before the calculation of the bonus. The bonus will be paid on January $15$ of the next year.

Read the requirementsLOADING.... $($Record debits$$ first, then credits. Round all amounts to the nearest cent. Select the explanation on the last line of the journal entry$$ table.$)$

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Part $1$

Requirement $1.$ Journalize the December $31$ transaction for Barrera.

Date

Accounts and Explanation

Debit

Credit

Dec. $31$

Part $2$

Requirement $2.$ Journalize the payment of the bonus on January $15.$

Date

Accounts and Explanation

Debit

Credit

Jan. $15$