Computing bonus payable on december 31 domino company, Accounting Basics

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Computing bonus payable on december 31 domino company

Question: Computing bonus payable On December 31, Domino Company estimates that it will pay its employees a 2% bonus on $58,000 of net income after deducting the bonus. The bonus will be paid on January 15 of the next year

Requirements: 1. Journalize the December 31 transaction for Domino

2. Journalize the payment of the bonus on January 15.

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Accounting Basics: Computing bonus payable on december 31 domino company

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Accounting Basics: Computing bonus payable on december 31 domino company

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