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MAK, Inc. is in some legal trouble. They have been sued for patent infringement by CMN, Inc. If they lose, MAK Inc. could end up

image text in transcribed MAK, Inc. is in some legal trouble. They have been sued for patent infringement by CMN, Inc. If they lose, MAK Inc. could end up paying $200,000,000 when it settles. It is highly probable MAK will lose. a. Record the appropriate journal entry, if required, for MAK prior to any actual award of damages. b. Record the journal entry if the case settled for $184,000,000 Note: Make sure to format your entries properly, whether you are using a table or plain text entry

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