Additional information about transactions and events occurring in 2024 follows:

During 2023, the company accrued $100,000 for medical costs due to an accident caused by a driver. The amount was probable and estimatible. The lawsuit was settled for the full amount in 2024. However, the settlement has led the company lawyers to assess two additional potential claims:

1. The same driver was in an accident at the beginning of 2024. While the injuries were not significant, due to the history of accidents, the lawyers believe that it is probable that the injuried party will sue for damages. While the company cannot determine whether they will prevail in the suit, a payout of $450,000 is reasonably possible
2. The initial 2023 accident caused a chemical spill on company land. The EPA has assessed the damage, and fined the company $125,000. At the end of 2023, the company lawyers appealed the fine, and expected to pay a total of $105,000 for both the remediation costs, and additional fees. During 2024, the company lawyers decreased that estimate to $95,000. No journal entry was made during either year.

The lawyers have approached you to determine whether there needs to be an accrual of these potential claims (ignore any tax effects).