Question #7 (4 Marks) Dejong's Drycleaning has the following events occur during December, 2020. Dejong reports under IFRS and has a December 31 year end. a) A customer sued Dejong for $5,000,000. Legal advice at this time is that the future outcome of this case is not determinable. (2 marks) b) Delong was sued for wrongful dismissal by a former employee. The employee is claiming $2,000,000 in damages. Legal advice at this time is that Dejong will probably lose the lawsuit. (2 marks) Instructions: For each of the above situations, indicate if any liability should be recorded or disclosed in Delong's financial statements at December 31, 2020. Assume all amounts are substantial to Dejong. Explain your answer. a) b) I Question #8 (6 Marks) Lawler Company's gross salaries payroll for the week ending February 15, 2020 was $167.500. The following deductions were withheld from employees' salaries: Income Taxes..... $50,260 7.630 CPP . 3,300 . 2,950 Union Dues Instructions: a) Prepare the journal entry to record the employees' weekly payroll on February 15, 2020. (3 marks) b) Prepare the journal entry to record the employer's benefits expense related to the payroll on February 15, 2020. (3 marks) Date Accounts Debit Credit