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Awesome Day Event Planners pays a 3% bonus to employees on annual net income after deducting the bonus. Awesome Day reports net income of $310,000 before the calculation of the bonus. The journal entry to record the bonus owed to employees would be (round to the nearest dollar): O Employee Bonus Expense 9,300 Employee Bonus Payable O Employee Bonus Payable Employee Bonus Expense O Employee Bonus Payable Employee Bonus Expense O Employee Bonus Expense Employee Bonus Payable 9,029 9,300 9,029 9,300 9,029 9,300 9,029

Awesome Day Event Planners pays a 3% bonus to employees on annual net income after deducting the bonus. Awesome Day reports net income of $310,000 before the calculation of the bonus. The journal entry to record the bonus owed to employees would be (round to the nearest dollar): O Employee Bonus Expense 9,300 Employee Bonus Payable O Employee Bonus Payable Employee Bonus Expense O Employee Bonus Payable Employee Bonus Expense O Employee Bonus Expense Employee Bonus Payable 9,029 9,300 9,029 9,300 9,029 9,300 9,029

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Awesome Day Event Planners pays a 3% bonus to employees on annual net income after deducting the bonus. Awesome Day reports net income of $310,000 before the calculation of the bonus. The journal entry to record the bonus owed to employees would be (round to the nearest dollar): 9,300 Employee Bonus Expense Employee Bonus Payable O Employee Bonus Payable Employee Bonus Expense Employee Bonus Payable Employee Bonus Expense Employee Bonus Expense Employee Bonus Payable 9,029 9,300 9,029 9,300 9,029 9,300 9,029
Transcribed Image Text:Awesome Day Event Planners pays a 3% bonus to employees on annual net income after deducting the bonus. Awesome Day reports net income of $310,000 before the calculation of the bonus. The journal entry to record the bonus owed to employees would be (round to the nearest dollar): 9,300 Employee Bonus Expense Employee Bonus Payable O Employee Bonus Payable Employee Bonus Expense Employee Bonus Payable Employee Bonus Expense Employee Bonus Expense Employee Bonus Payable 9,029 9,300 9,029 9,300 9,029 9,300 9,029
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