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30. On January 30, 2019, a suit was filed against Frazier Corporation under the Environmental Protection Act. On August 6, 2020, Frazier Corporation agreed to

30. On January 30, 2019, a suit was filed against Frazier Corporation under the Environmental Protection Act. On August 6, 2020, Frazier Corporation agreed to settle the action and pay $920,000 in damages to certain current and former employees. How should this settlement be reported in the 2020 financial statements? Discuss.

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