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On December 31. Pola Company estimates that it will pay its employees a 3% bonus on net income her deducting the bonus. The company reports

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On December 31. Pola Company estimates that it will pay its employees a 3% bonus on net income her deducting the bonus. The company reports net income of $42.000 before the calculation of the bons. The bonus will be paid on January 15 of the next year Read the mouirements (Record debits first the credits. Round all amounts to the nearest cent. Select the exploration on the last line of the journal entry table) Requirement 1. Joumalize the December 31 transaction for Polka Date Accounts and Explanation Debat Credit Requirements Dec 31 Employee Bonus Expense Employee Bonus Payable 1. Jumal the December 31 transaction for Polka 2 ouma te payment of the bonus on January 15 To record employee bus expense Print Done

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