For each item numbered 1 through 16 below, select the appropriate effect on liabilities that each transaction describes. pick from : 

Decrease current liabilities   , Increase current liabilities, No effect on recorded current liabilities

1.   Purchased supplies on account.

2.   Paid accounts payable.
3. Issued a $1,000 short-term note payable for $970.

4.   Amortized the discount of the short-term note payable.

5.   A portion of long-term debt is due next year.

6.   Declared cash dividends to stockholders.

 7.   Paid the cash dividend previously declared.

8.   Received money from customers prior to delivery of the product to the customer.

9.   Delivered products to a customer who previously paid for that product.

10. Collected sales tax on behalf of the state government.

11. Accrued payroll taxes that the firm has to pay to the federal government within three months.

12. Accrued a bonus amounting to 5% on reported income to the CEO.

13. In a lawsuit filed against the firm, counsel indicates that the potentia

l $10,000 loss is remote.

14. In a lawsuit filed against the firm, counsel indicates that the potential $10,000 loss is reasonably possible.

15. In a lawsuit filed against the firm, counsel indicates that the potential $10,000 loss is highly probable.

16. Accrued warranty expense.