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Blossom Co. is being sued by local residents who...

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Accounting

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Blossom Co. is being sued by local residents who allege negligence on the company's part. Blossom's legal defense team believes that it is probable that Blossom will lose the suit and will be found liable for a judgment between $2525000 to $7502000 with the most probable cost being \$4612420. Based on this information, Blossom should accrue a loss contingency of $4612420 and disclose an additional contingency of up to $2889580. not accrue a loss contingency of but disclose a possible loss of between $2525000 and $7502000. accrue a loss contingency of $4977000 but not disclose any additional possible loss. accrue a loss contingency of $2525000 and disclose an additional contingency of up to $4977000

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