The company is being sued for $500,000 by a customer who claims damages for personal - 88224

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  • From: Business, Accounting
  • Posted on: Tue 10 Feb, 2015
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The company is being sued for $500,000 by a customer who claims damages for personal injury apparently caused by a defective product. Company attorneys feel extremely confident that the company will have no liability for damages resulting from the situation. Nevertheless, the company decides to make the following entry. Loss from Lawsuit 500,000 Liability for Lawsuit 500,000
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