On 10/21/20Y1, Company A faced a lawsuit that was probable of losing and reasonably estimated that it

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On 10/21/20Y1, Company A faced a lawsuit that was probable of losing and reasonably estimated that it might need to pay 10M. On 11/29/20Y1, Company A lost the lawsuit and it paid 13M a month later.

What are the journal entry on 10/21/20Y1, 11/29/20Y1, and 12/29/20Y1?

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Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: May 25, 2023 04:45 AM

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On 10/21/20Y1, Company A faced a lawsuit that was probable of losing and reasonably estimated that it

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Here are the journal entries for the given dates On 102120Y1 Debit ... View the full answer

Financial Accounting and Reporting a Global Perspective

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