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How much of the settlement should corp recognize

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Reference no: EM132593573

Question - Corp sued App Corp for violating a license agreement. As of the end of 2019, the lawsuit is not settled but Corp expects there is a high probability that they will receive a settlement between $200,000 and $500,000 within the next year. How much, if any, of the settlement should Corp recognize as a contingent gain on the 2019 financial statements?

Reference no: EM132593573

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