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Marigold Corp. was recently sued by a competitor for patent infringement. Lawyers have determined that it is probable (and very likely) that Marigold will lose
Marigold Corp. was recently sued by a competitor for patent infringement. Lawyers have determined that it is probable (and very likely) that Marigold will lose the case, and that Marigold will have to pay between $110.000 and $ 340,000 in damages. Marigold follows IFRS What entry, if any, should Marigold record in respect of this tawsuit? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Whatentry, if any, should Marigold record in respect of this lawsuit assuming that Marigold follows ASPECredit card automatically indented when the amount is entered. Do not indent manually. If no entry is required, sled "No Entry for the account tilties and enter O for the amounts.) Account Titles and Explanation Debit Credit
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