Mississippi Crulse Lines is a defendant in titigation involving a swimming aceident on one of its three critise ships. Required: 1. The likellhood of a payment occurting is probable, and the estimated anount is $1.19 mililion 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $099 to $1.19 minilon. Journal Entry Required" in the first occount fiven above. (If no entry is required for o particular transaction/ovent, select "No be entered as 5,500,000. Journal entry worksheet 4 Record the contingent liability, if necessary, if the likellihood of a payment occurring is probable, and the estimated amount is $1.19 million. Note:- Enter debits before credits: Mississippi Crulse Lines is a defendant in litigation involving a swimiming accident on one of its three ciulse ships. Required: 1. The likelihood of a payment occurring is probable, and the estimated amount is \$t19 mition. 2. The likelihood of a payment occurting is probable, and the amount is estimated to be in the range of $099 to $1.19 mathon? 3. The likelihood of a payment occuring is reasonably possible, and the estlmated amount is $1.19 million 4. The likelihood of a payment occurring is remote, while the estimated potental amount is $1.19 million. Record the necessary entry for the scenarlos given above. If no entry is required for a particular tronsaction/event, solect ' No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For example, 55,5 million should be entered as 5,500,000.) Journal entry worksheet Record the contingent liability, If necessary, If the likelihood of a payment occurring is probable, and the amount is estimated to be in the range of 50.99 to $1.19 million. Mississippi Cruise Lines is a defendant in litigation involving a swimming accident on one of its three crulse ships Required: 1. The likelihood of a payment occurring is probable, and the estimated amount is $1.19 million 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.99 to $1.19million 3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $119million 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.19million. Record the necessary entry for the scenarios given above. (If no entry is required for a particulor transoction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For example, $5.5 million should be entered os 5,500,000.) Journal entry worksheet
