Nyguen Electronics is a leading manufacturer of digital camera equipment. Assume the following transactions occur during the year ended December $31,2024.$

Accounts receivable were $$28\mathrm{.}2$ million $($all credit$)$ at the end of $2024.$ Although no specific customer accounts have been shown to be uncollectible, the company estimates that $1\%$ of accounts receivable will eventually prove uncollectible.

Nyguen Electronics is the plaintiff in a $$4\mathrm{.}2$ million lawsuit filed against a supplier. The suit is in final appeal, and attorneys advise it is virtually certain that Nyguen Electronics will win and be awarded $$2\mathrm{.}7$ million.

In November $2024,$ Nyguen Electronics became aware of a design flaw in one of its digital camera models. A product recall appears probable and would likely cost the company $$520,000.$

Nyguen Electronics is the defendant in a patent infringement lawsuit brought by a competitor. It appears reasonably likely Nyguen Electronics will lose the case, and potential losses are estimated to be in the range of $$1\mathrm{.}7$ to $$2\mathrm{.}7$ million.

Required:

Determine the appropriate way Nyguen Electronics would report the contingencies. Record any amounts as a result of each of these contingencies if required. $($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. For example, $$5\mathrm{.}5$ million should be entered as $5,500,000.)$