On December 30, 2020, Pizza Planet, a restaurant had a kitchen fire that caused severe damage to the property (book valu

[answerhappygod]

On December 30, 2020, Pizza Planet, a restaurant had a kitchen
fire that caused severe damage to the property (book value of $3
million). Investigators are still trying to determine the extent of
the damage, but the current estimated damage is $1.0 – $1.6
million. No amount in the range is more likely than any other
amount.
Which section of the FASB Accounting Standards Codification best
defines what amount Pizza Planet should record as a loss
contingency in its December 31, 2020 financial statements?