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What amount of accrued liability be reported for aljur co

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Reference no: EM132850041

Problem 1: Aljur Company is involved in litigation regarding a faulty product sold in a prior year. The entity consulted with an attorney and determined that there is a 50% chance of losing. The attorney estimated that the amount of any payment would be between P500,000 and P800,000 with P500,000 as the best estimate. What amount of accrued liability should be reported?

Reference no: EM132850041

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