The following selected transactions relate to contingencies of Bowe-Whitney Incorporated. Bowe-Whitney's fiscal year ends on December 31, 2024, and financial statements are published in March 2025. 1. Bowe-Whitney is involved in a lawsuit resulting from a dispute with a customer over a 2024 transaction. At December 31, attorneys advised that it was probable that Bowe-Whitney would lose $3 million in an unfavorable outcome. On February 12 , 2025 , judgment was rendered against Bowe-Whitney in the amount of $14 million plus interest, a total of $15.2 million. BoweWhitney does not plan to appeal the judgment. 2. Since August of 2024, Bowe-Whitney has been involved in labor disputes at two of its facilities. Negotiations between the company and the unions have not produced a settlement and, since January 2024 , strikes have been ongoing at these facilities. It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. 3. Bowe-Whitney is the defendant in a lawsuit filed in January 2025 in which Access Company seeks $10 million as an adjustment to the purchase price related to the sale of Bowe-Whitney's hardwood division in 2024. The lawsuit alleges that Bowe-Whitney misrepresented the division's assets and liabilities. Legal counsel advises that it is reasonably possible that Bowe-Whitney could lose $5 million, but that it's extremely unlikely it could lose the $10 million asked for. 4. At March 1, 2025, the EPA is in the process of investigating the possibility of environmental violations at one of Bowe-Whitney's sites, but has not proposed a penalty assessment. Management feels an assessment is reasonably possible, and if an assessment is made, a settlement of up to $33 million is probable. Required: Prepare journal entries that should be recorded as a result of each of the above contingencies. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in nearest whole dollars