Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. Required: 1. The likelihood of a payment occurring is probable, and the estimated amount is $1.6 millon. 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.96 to $116 million 3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $116 million 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $116 million nt enors Record the necessary entry for the scenarios given above. (If no entry is required for a particular transaction/event, select "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 os 5,500,000.) View transaction list View transaction list Journal entry worksheet A B D Record the contingent liability, if necessary, if the likelihood of a payment occurring is probable, and the estimated amount is $1.16 million. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal View transaction list Journal entry worksheet