At December 31, 2020, Lawton & Border Inc. (L&B) is involved in a lawsuit. Under existing standards in IAS 37, 

(a) prepare the December 31 entry assuming it is probable (and very likely) that L&B will be liable for $700,000 as a result of this suit. 

(b) Prepare the December 31 entry, if any, assuming it is probable (although not likely) that L&B will be liable for a payment as a result of this suit. 

(c) Would your answer change if it was not probable that L&B would be liable? 

(d) Repeat parts (a) and (b) assuming that L&B follows ASPE.