Springfield Company offers a bonus plan to its employees and the amount of the employee bonuses for the current year is estimated to be $970,000 to be paid during January of the following year. The journal entry on December 31 to record the bonuses is: Multiple Choice Debit Unearned Bonuses $970,000; credit Bonus Payable $970,000. Debit Estimated Bonus Payable $970,000; credit Cash $970,000. o No entry since the bonuses are not paid until January o Debit Employee Bonus Expense $970,000; credit Bonus Payable $970,000. o o Debit Employee Bonus Expense $970,000; credit Prepaid Employee Bonus $970,000