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The employees of Sponsel Manufacturing achieved all of the sales goals for the current year. The company will pay the employees the promised bonus of
The employees of Sponsel Manufacturing achieved all of the sales goals for the current year. The company will pay the employees the promised bonus of 13% on annual net income, after deducting the bonus. The net income before the calculation of the bonus is $740,000. The journal entry to record the bonus owed to employees would be (Round the final answer to the nearest dollar.)
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