Chapter 13 Discussion- Contingencies (graded based on first submission) 1212 unread replies.1212 replies. In the year 2020 you are fined $5,000,000 by the government. Your attorneys estimate you will only have to pay $1,500,000 so that is what you accrue for government fees. In 2022 you are notified by your lawyers that the government has agreed to a $2,000,000 settlement and you decide to pay it. In addition, in 2022, your company has been told by the lawyers that you may win $5,000,000 on another lawsuit and could be paid in the following year. How should both these items be treated on the financials in 2022 and why? Please address each issue separately in your own words and do not copy or paraphrase from the book. Also, no bullet answers.