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Concord Corp. was recently sued by a competitor for patent infringement. Lawyers have determined that it is probable $($and very likely$)$ that Concord will lose the case, and that Concord will have to pay between $$110,000$ and $$330,000$ in damages. Concord follows IFRS.

$($a$)$

What entry, if any, should Concord record in respect of this lawsuit? $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

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