thompson corp. owned a machine that cost $80,000 and had accumulated depreciation of $50,000, an estimated salvage value of $5,000, and a fair value of $150,000. in january, the machine was damaged by snow corp. and became worthless. in october, a court awarded damages of $150,000 against snow in favor of thompson. on december 31, the final outcome of the case was awaiting appeal. thompson's attorney believes snow's appeal will be denied. what amount should thompson accrue for this gain contingency on december 31?
