Springfield Company offers a bonus plan to its employees and the amount of the employee bonuses for the current year is estimated to be $966,000 to be paid during January of the following year. The journal entry on December 31 to record the bonuses is.
a. Debit Estimated Bonus Payable $966,000; credit Cash $966,000.
b. Debit Employee Bonus Expense $966,000; credit Prepaid Employee Bonus $966,000.
c. Debit Employee Bonus Expense $966,000; credit Bonus Payable $966,000.
d. Debit Unearned Bonuses $966,000; credit Bonus Payable $966,000.
e. No entry since the bonuses are not paid until January.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

d) social security number

let me know if i am correct or not, so i can edit the answer.