Contingent Liabilities Determine which of the following transactions represent contingent liabilities for june Leasing and indicate the proper accounting treatment at the company's fiscal year-end, by placing the letter of the correct accounting treatment in the space provided a. Accrue aliability and disclose in the financial statement notes b. Disclose in the financial statement footnotes only No disclosure Transactions 1. Lig was sued by a customer who claimed the equipment they leased was not up to the standards described by June pune stands by its cars and can support all the items specification. June plastovigorously defend tela 2. A government audit of one found that the company is in violation of several work safety regulations une has been notified that will be assessed a fine of $25,000. une has areed to make the safety changes so that will be in comp 1 june Leasing has been served a lawut by a customer that claim he wired from one of the producted from june plans to defend it in court, but its lower believe there is a chance that they will and befo Contingent Liabilities Determine which of the following transactions represent contingent liabilities for June Leating and indicate the proper accounting treatment at the company's fiscal year-end, by placing the letter of the correct accounting treatment in the space provided. a. Accrue a liability and disclose in the financial statement notes b. Discose in the financial statement footnotes only No disclosure Accounting Treatment Transactions not up to the Mandards described by nene sand by its dams and cantoral thespecification plans to vigorously defend self and belves the chances of the lawsuit are remote Safety regulations, junt has been notified that it will be essed a fine of 525.000. June has greed to make the safety changes so that it will be in compliance with the regulations om one of the products leased from June June plans to defend itself in court, but its lawyers believe there's a so chance that they will lose and be forced to pay $50.000