A City accounts for its hospital in an Enterprise Fund. An individual brings a malpractice suit against the hospital in 2020. City lawyers goes to court, but estimate that it is probable they can settle it out of court for $50,000. In any event, the City does not expect any cash How should the Enterprise Fund report this item in its statements for the year ended December 31, 2020?  

Answer rating: 100% (QA)

In the Enterprise Funds financial statements for the year ended December 31 2020 the potential settl... View the full answer