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MC Qu. 24 (LO8-5) Allied Partners filed suit against... Allied Partners filed suit...

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Accounting

MC Qu. 24 (LO8-5) Allied Partners filed suit against...

Allied Partners filed suit against Big Sky, Inc., seeking damages for patent infringement. Big Skys legal counsel believes it is probable that Big Sky will settle the lawsuit for an estimated amount in the range of $500,000 to $700,000, with all amounts in the range considered equally likely. How should Big Sky report this litigation?

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