Question: Current Attempt in Progress Buffalo Inc. is Involved in a lawsuit at December 31, 2020. Prepare the December 31 entry assuming It Is probable that

 Current Attempt in Progress Buffalo Inc. is Involved in a lawsuit

Current Attempt in Progress Buffalo Inc. is Involved in a lawsuit at December 31, 2020. Prepare the December 31 entry assuming It Is probable that Buffalo will be liable for $859,900 as a result of this suit. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit December 31, 2020 eTextbook and Media List of Accounts Prepare the December 31 entry, If any, assuming It is not probable that Buffalo will be liable for any payment as a result of this sult. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit December 31, 2020 eTextbook and Media List of Accounts

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