Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. Required:

Show all work 1. The likelihood of a payment occurring is probable, and the estimated amount is $1.29 million. 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $1.09 to $1.29 million. 3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.29 million. 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.29 million. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars, not in millions. (i.e. 5.5 should be entered as 5,500,000).)

Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. Required: 1. The likelihood of a payment occurring is probable, and the estimated amount is $1.29 million. 2. The likel hood of a payment occurring is probable, and the amount is estimated to be in the range of $1.09 to $1.29 million. 3. The likeli hood of a payment occurring is reasonably possible, and the estimated amount is $1.29 million. 4. The likelhood of a payment occurring is remote, while the estimated potential amount is $1.29 million. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars, not in millions. (i.e. 5.5 should be cntered as 5,500,000).) View transaction list Journal entry worksheet Record the contingent liability if needed. Note: Enter debits before credits, General Journal Debit Credit Record entry Clear entry View general journal