Exercise 9-13 Accounting for contingent liabilities LO C3 Listed below are a few transactions and events of Melbourn Company 1. Melbourn Company guarantees the $100,000 debt of a supplier. It is not probable that the supplier will default on the debt. 2. A disgruntled employee is suing Melbourn Company. Legal advisers believe that the company will probably need to pay damages, but the amount cannot be reasonably estimated. Print Indicate the proper financial reporting for each case. Requires 1 2