Do not do the question that states "Prepare the December 31 entry assuming it is probable that Scorcese will be liable for $918,800 as a result of this suit"

Culver Inc. is involved in a lawsuit at December 31, 2020. (a) Prepare the December 31 entry assuming it is probable that Culver 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 Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit December 31, 2020 Scorcese Inc. is involved in a lawsuit at December 31, 2014. Prepare the December 31 entry assuming it is probable that Scorcese will be liable for $918,800 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 Credit December 31, 2014 SHOW LIST OF ACCOUNTS Prepare the December 31 entry, if any, assuming it is not probable that Scorcese will be liable for any payment 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 Credit December 31, 2014