Sandhill Inc. is involved in a lawsuit at December 31, 2017. Prepare the December 31 entry assuming it is probable that Sandhill will be liable for...

Sandhill Inc. is involved in a lawsuit at December 31, 2017.

Prepare the December 31 entry assuming it is probable that Sandhill will be liable for $857,200 as a result of this suit. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

December 31, 2017

Prepare the December 31 entry, if any, assuming it is not probable that Sandhill will be liable for any payment as a result of this suit. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

December 31, 2017