Required: 1. The likelihood of a payment occurring is probable, and the estimated amount is $1.11 million 2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.91 to $1.11 million 3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.11 million 4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.11 million. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter your answers in dollars, not in millions. (.e.5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet 1 2 3 4 Record the contingent liability if needed. Note: Enter debits before credits Transaction General Journal Debit Credit 1