What is the accounting treatment for the situation

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Problem 1: Jennings is involved in a pending court case. Kowalski's lawyers believe it is probable that Kowalski will be awarded damages of $14,000,000. What is the accounting treatment for the situation?

Reference no: EM132814848

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What is the accounting treatment for the situation : Kowalski's lawyers believe it is probable that Kowalski will be awarded damages of $14,000,000. What is the accounting treatment for the situation?
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