Dow Chemical was sued for infringing Bayer Industries' patent No. 123X45 in March of 2019. Dow's lawyers believed it was probable it was going to lose and estimated damages were $4,000,000 to $7,000,000. They also believed the high end of the range was more likely-than-not. Dow's year-end is December 31. On June 1, 2020, after Dow's 2019 financial statements were issued, the plaintiff accepted a cash settlement of $5,000,000. Dow Chemical paid the liability on the same day. 1. Show, in good form, the journal entry made to record the settlement. (25 points)