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(b) Under existing standards in IAS 37, prepare the December 31 entry, if...

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Accounting

(b)
Under existing standards in IAS 37, prepare the December 31 entry, if any, assuming it is probable (although not likely) that G&S will be liable for a payment as a result of this suit. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
image

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