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 $120 million 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $100 to $1 20 million 3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $120 million 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.20 million Record the necessary entry for the scenarios given above if no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in dollars, not in milions de 5.5 should be entered as 5.500,000) View transaction ist Journal entry worksheet Record the contingent liability if needed. Note: Enter debits before credits Transaction General Journal Debit Credit 3 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 $120 million 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $100 to $120 million 3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $120 million 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $120 million Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No journal required" in the first account field. Enter your answers in dollars, not in millions. (.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet Record the contingent liability if needed. Note: Enter debits before tradits. Transaction General Journal Debit Credit