Business Finance Homework Help
Business Finance Homework Help. Pet Project Expansion Case
Show the journal entry to record the legal liability arising from the potential lawsuit. (If you find
there is no liability, show the entry needed if there were liability)
Criteria
Ask attorney if liability from the lawsuit is probable, reasonably possible, or remote.
Recognize a contingent liability if in attorney’s opinion liability is probable.
What is the entry assuming 3-month vacancy?
Business Finance Homework Help
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