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What amount should Caso record as income

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Question - In May 2020 Caso Company filed suit against Wayne company seeing 1900000 damages for patent infringement.

A court verdict in November 2020 awarded Caso 1500000 in damages but Waynes appeal is not expected to be decided before 2021.

Caso's counsel believed it is probable that Caso will be successful against Wayne for an estimated amount in the range between 800000 and 1100000 with 1000000 considered most likely amount.

What amount should Caso record as income from the lawsuit for the year ended December 31 2020?

Reference no: EM132540299

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