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A leak in an underground storage tank belonging to company

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A leak in an underground storage tank belonging to Company B contaminated the adjacent property belonging to the ABC company. The approximate cost to repair the damage is $50,000 and Company B's insurance should reimburse Company B for the costs except for the deductible of 10,000.For this situation, what amount should be recorded by Company B as a contingent liability, if any?

Reference no: EM13598697

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