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The following selected transactions relohe to contingencies of Bowe-Whitiney Incorporated. Eowe-Whineys focai year ends on December 31, 2024, and financial stetements are published in March 2025. 1. Bowie-Whitney is involved in a lawsuit resulting from a dispute with a customer over a 2024 transaction, At December 31 . atrorneys advised that it was probable that Bowe-Whitney would lose 43 milion in an unfavorabie outcome. On Febcuary 12 2. Since August of 2024, Bowe-Whitney has been involved in labor disputes at two of its facities, Negotiations between the company and the unions have not produced a sertiement and, since Janutry 2024 . stikes have deen ongoing at these facmies. It is virtually certain that materat costs will be incurted but the arseart of resuthant costs cannot be adequately arecicted. 3. Bowe Whitney is the defendant in a lewsut filed in January 2025 in which Access Compary seeks 510 m mion as an acturtment. to the purchase price related to the sale of Bowe-Whatheys hardwood division in 2024 . The fows int a aleges that Bowe-Whithey. misrepresented the divisian's assets and liablities. Legal counsel advises that it in reasonasly possitie that Borve-Whitney could lose $5 mition, but that in's extremely unlikely it could lose the $10 milion asked for. 4. At Mareh 1, 2025, the EPA is in the process of investigating the poswbity of environmental volations at one of Bowe Whiney's sites, but has not propased a penalty assessment. Monagement feels an assessment is teascrably at ansibie. and in an assessment is made. a settiemeot of up to $33 milion is probabie. Required: Prepare journal entries trat should be recorded as a resul of each of the obove contingencies: Note, if no entry. Is required for a trantaction/evem, velect No journat entyy regulred' In the firit eccount fiels. Enter your answers in neareat whote dollars