Question 16 Not yet answered Marked out of 1.00 P Flag question On 1/1/2020 P Company acquired all the net assets of S Company. P Company also agreed to pay an additional $90000 to the former stockholders of S Company if the average earnings next two years exceeded $800000. The entry recorded if target is not met: Select one: a. Dr. Cash 90000 Cr. Income 90000 b. Dr. Contingent liability 90000 Cr. Cash 90000 c. Dr. Goodwill 90000 Cr. Contingent liability 90000 d. Dr. Contingent liability 90000 Cr. Income 90000