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On December 31, Peterson company estimates that it will pay its employees a 3% bonus on 62,000 of net income after deducting the bonus. The bonus...

On December 31, Peterson company estimates that it will pay its employees a 3% bonus on 62,000 of net income after deducting the bonus. The bonus will be paid on January 15 of the next year.

Journalize the Decemberb31 transactions for Peterson

journalize the payment of the bonus on Jan 15

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