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What amount should banner accrue as a contingent liability

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Question - Prior to issuing its year-end financial statements, Banner Co. was named as a defendant in a lawsuit arising from an event that occurred during the year. Banner's legal counsel believes it is probable that Banner will be liable and that damages can be estimated as a range from $80,000 to $175,000. What amount should Banner accrue as a contingent liability on its year-end financial statements?

Reference no: EM133085668

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