Question
CN as at December 31, 2019, the maximum potential liability under these guarantee instruments was $742 million (2018 - $707 million), of which $681 million
CN as at December 31, 2019, the maximum potential liability under these guarantee instruments was $742 million
(2018 - $707 million), of which $681 million (2018 - $659 million) related to other employee benefit liabilities and
workers' compensation and $61 million (2018 - $48 million) related to other liabilities. The guarantee instruments
expire at various dates between 2020 and 2022. One of the companies with a $100 million guarantee has
defaulted on its debt your treasury department has suggested that there is a 22% loss.
You are the CFO and write any journal entry you deem necessary and justify your decision
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