Question: In negotiating and effecting a troubled debt restructuring the

In negotiating and effecting a troubled debt restructuring, the creditor usually incurs various legal costs. The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required:
1. What is the specific citation that describes the guidelines for reporting legal costs?
2. What is the appropriate accounting treatment?


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  • CreatedJuly 05, 2013
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