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Determine the outcome for doogie lawsuit

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Problem 1: Two former employees of CCC, Benny Bruiser and Doogie Daze, started legal action against the company for wrongful termination. Benny is seeking $300,000 and Doogie wants $200,000. Legal counsel for CCC believes that Benny is likely to get around $30,000 but is unable to determine the outcome for Doogie's lawsuit. The lawsuits will be heard in court sometime during 2021.

Christina Credit recorded the following entry for the loss:

                                                                    DEBIT                CREDIT

Expense due to lawsuit                        $500,000
($300,000+$200,000)

Liability due to wrongful termination                             $500,000

Reference no: EM132712876

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