Keaton, Inc. is being suted by a customer. Keaton's laywers believe they will probably lose and have to pay $120,000 Should Keaton record a libility, disclose the lawsuit, or do nothing? If Keaton should record a liability, prepare the appropriate journal entry. Prepare the correct journal entry is Keaton settles the lawsuit for $150,000 Beeson Inc. just found out that their leading shampoo product causes permanent hair loss. No one has filed suit yet, and thye have no idea how many people were affected or what the potential liability will be. Should Beeson record a libility, disclose the contingent liability or do nothing