Question: Prepare the December 31, entry assuming it is probable the Sarasota will be liable for $965,600 as a result of this suit Date Account Titles

Prepare the December 31, entry assuming it is probable the Sarasota will be liable for $965,600 as a result of this suit

Date Account Titles and Explanation Debit Credit

December 31, 2017 ________________________________ ____________ __________________

_______________________________ _________________ __________________

Prepare the December 31 Entry, if any, assuming it is not probable that Sarasota will be liable for any payment as a result of this suit.

Date Account titles and Explanation Debit Credit

December 31, 2017 _________________________________ ___________________ ___________________

_________________________________ ______________________ ___________________

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