QUESTION 1 Match the given word with the correct definition. Contingent liabilities Current portion of long-term debt known liabilities Long-term liability Current liabilities Short-term note payable Sales Tax Payable Warranty Estimated Warranty Liability Warranty Expense A. Measurable liabilities that are due to agreements, contracts or laws. B. Obligations with due dates within the next 12 months. C. The liability account used to record estimated warranty costs related to a sale. D. A written promise to pay a specified amount of money on a stated due date that is within the next 12 months. E. A potetial liability that depends on the outcome of a future event due arising from something occurred in the past (ex: lawsuit) F. A seller's obligation to replace or repair a product that does not perform as expected. G. Taxes collected from a customer by the retailer when merchandise or services are sold. H. The expense account used to record the estimated warranty costs associated with a sale. 1. Debts with due dates beyond the next 12 months. J. That part of a long-term obligation that is due within the next 12 months