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please solvr this fast Dana Co.'s officers' compensation expense account had a balance of $224,000 at December 31 , Year 1 , before any appropriate

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Dana Co.'s officers' compensation expense account had a balance of $224,000 at December 31 , Year 1 , before any appropriate year-end adjustment relating to the following: totaled $3,500. - Year 1 officers' bonuses of $62,500 were paid on January 31, Year 2. In its Year 1 income statement, what ampunt spould Dana report as officers' compensation expense? Record the needed adjusting journal entries on December 31, Year 1

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