Business, 15.10.2020 08:01, jaydenromero31

A town's garbage trucks accidentally sideswiped two parked automobiles in the fiscal year ended December 31, 2019. One case was settled for $3,000 in 2019, and the town expects to pay that claim in January 2020. In the other case, the claimant originally demanded $15,000. The town attorney thinks they can settle the claim for $10,000, but it probably will take two years to settle the case. What amount should the town report as a claims liability on the General Fund December 31, 2019 balance sheet?

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A town's garbage trucks accidentally sideswiped two parked automobiles in the fiscal year ended Dece...