Skysong Corporation provides its officers with bonuses based on net income. For 2025, the bonuses total $346,500 and are paid on February 15, 2026. Prepare Skysong's December 31, 2025, adjusting entry and the February 15, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Account Titles and Explanation Date Debit Credit
Skysong Corporation provides its officers with bonuses based on net income. For 2025, the bonuses total $346,500 and are paid on February 15, 2026. Prepare Skysong's December 31, 2025, adjusting entry and the February 15, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Account Titles and Explanation Date Debit Credit
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 24P
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Transcribed Image Text:Skysong Corporation provides its officers with bonuses based on net income. For 2025, the bonuses total $346,500 and are paid on
February 15, 2026. Prepare Skysong's December 31, 2025, adjusting entry and the February 15, 2026, entry. (If no entry is required,
select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered.
Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
Account Titles and Explanation
Date
Debit
Credit
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