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On December 31, Rodriguez Company estimates that it will pay its employees a 5% bonus on net income after deducting the bonus. The company reports

On

December

31,

Rodriguez

Company estimates that it will pay its employees a

5%

bonus on net income after deducting the bonus. The company reports net income of

$48,000

before the calculation of the bonus. The bonus will be paid on

January

15 of the next year.

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