Panama Shirt Designs is a defendant in litigation involving an employee accident in its manufacturing plant. Record the appropriate journal entry for each of the following scenarios. (if no entry is required for a particular transaction/e select "No Journal Entry Required" in the first account field.) 1. The likelihood of a loss occurring is probable and the estimated loss is $600,000 2. The likelihood of a loss occurring is probable and the loss is estimated to be in the range of $600,000 to $850,000. 3. The likelihood of a loss occurring is reasonably possible and the estimated loss is $600,000, 4. The likelihood of a loss occurring is remote, while the estimated potential loss is $600,000. View transaction list Journal entry worksheet 1 2 3 4 > The likelihood of a loss occurring is probable and the estimated loss is $600,000. If necessary, record the appropriate journal entry. Note: Enter debits before credits Transaction General Journal Debit Credit