Accountant 1: Larry, could you help me, with these expense accounts?Accountant 2: Sure, Vicky, what’s up?Accountant 1: I need to know how to account for bonuses.Accountant 2: You mean the bonuses we pay to1 ___________ ___________ ___________ ?Accountant 1: Right. We 2 ___________ ___________until the 3 ___________ ______, so how do I know how much they will be?Accountant 2: Well, you 4 ___________ ___________know. I can give you estimates.Accountant 1: How do you estimate them?Accountant 2: I use the amounts of 5 ______________________ as a guide.Accountant 1: OK. 6 ___________ _____ . But the amounts vary every year, right?Accountant 2: They do. The estimates won’t be7 ___________ __, but that’s not a problem.Accountant 1: So then, how do I record them?Accountant 2: You need to record them in the accrued expenses payable account.
1 Calculate this year’s taxes and record the amount in _________.2 Debt payments are made ________ the cash account.3 If salespeople reach their target, they will get a(n) ________.4 Unused vacation days must be recorded as a(n) __________.