Question 1 110 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 December 31 year end to accrue staff bonuses, as 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) TO: (fill in) FROM: (fill in) SUBJECT: Why the adjusting journal entry for staff bonuses is or is not required