I have to journalize the following entry for Sir-Rents-A-Lot:
Sept 29, 2009 A child was slightly injured when he fell off of the front-end loader
that was rented to Landscrapers Inc. The child is the only son of a
lawyer and an orthopedic surgeon. They have filed a lawsuit at
$250,000 against both Landscrapers and Sir-Rents-A-Lot. The
actual liability for the accident has not yet been determined.
Should I post that entry on Sept. if I don't even know the actual liability? if yes, how?