How would the following be journalizedmanagement team met, Ask an Expert

Accounting

How would the following be Journalized?

Management team met their bonus goals this month (something they haven't done since the previous December. Money ($1772) must be set aside for bonuses.

There is an expense account for Management Bonus Expense & a Liability account for Accrued bonus

What is the correct way to enter this transaction into the Journal???

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9961749

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