Post-Lecture Question 07 Cody Company has a loss contingency. The company's legal council's opinion is that the contingency is probable and that they estimate that the amount of the loss will be $300,000.The proper accounting treatment for this contingency is to: O only disclose the amount of $300,000 in the notes to the financial statements. O the amount is neither accrued nor disclosed O $300,000 amount should be accrued as a liability. not enough information is given to determine the accounting treatment. LINK TO TEXT Question Attempts: 0 of 1 used