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3. Montomery Syringes Co. sued a competitor for $800,000, alleging corpor espionage. Montomery's legal counsel believes that the company will be successful and will be

3. Montomery Syringes Co. sued a competitor for $800,000, alleging corpor espionage. Montomery's legal counsel believes that the company will be successful and will be awarded somewhere in the range of $650,000 to $800,000. Required: Describe how the event should be dealt with in the financial statements and explain why. Prepare all required journal entries

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