Please answer without any plagiarism.

Question 1 (10 marks) Ace Accounting's controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace encountered opposition from Annette Black. She disagreed with making an adjusting journal entry at year- end, December 31, to accrue staff bonuses, since the bonuses were not paid. She wanted to wait until the staff bonuses were paid in February to record the bonuses. Her reasoning was that the results would be identical. Required: Write a business memo to explain to Annette Black why the adjusting journal entry to accrue the staff bonuses is or is not required. The format of the business memo should be the following: DATE: (fill in) I TO (fill in) FROM: (fill in SUBJECT: Why the adjusting journal entry for staff bonuses is or is not required