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"The guy" is a single person, so he should be a common friend of both Julie and Bonnie.
According to the rule (see below), it should be expressed as:
The guy is Julie and Bonnie's friend.
Compound PossessivesWhen you are showing possession with compounded nouns, the apostrophe's placement depends on whether the nouns are acting separately or together.Miguel's and Cecilia's new cars are in the parking lot.
This means that each of them has at least one new car and that their ownership is a separate matter.Miguel and Cecilia's new cars are in the parking lot.
This construction tells us that Miguel and Cecilia share ownership of these cars. The possessive (indicated by 's) belongs to the entire phrase, not just to Cecilia.Another example:Lewis and Clark's expectations were very much the same.
This construction tells us that the two gentlemen held one set of expectations in common.Lewis's and Clark's expectations were altogether different.
This means that the expectations of the two men were different (rather obvious from what the sentence says, too). We signify separate ownership by writing both of the compounded proper nouns in the possessive form.