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4 journal entrys please. Will give thumbs up Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three
4 journal entrys please. Will give thumbs up
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. Required: 1. The likelihood of a payment occurring is probable, and the estimated amount is $1.26 million. 2 The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $1.06 to $1.26 million. 3 The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.26 million. 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.26 million. Record the necessary entry for the scenarios given above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For example, $5.5 million should be entered as View transaction list Journal entry worksheet a c Record the contingent liability, if necessary, if the likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $1.06 to $1.26 million. Note: Enter debits before credits. ransaction Record entry General Journal Clear entry Debit redit View general journal
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