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What is the appropriate accounting treatment

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Reference no: EM131006572

In negotiating and effecting a troubled debt restructuring, the creditor usually incurs various legal costs. The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required:

1. What is the specific citation that describes the guidelines for reporting legal costs?

2. What is the appropriate accounting treatment?

Reference no: EM131006572

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