Leon's Furniture is one of Canada's largest retailers of home furnishings. The company reported the following items in its statement of financial position dated December 31, 2009 (in thousands of Canadian dollars):

The company's annual report included the following information: Warranty revenues are deferred and taken into income on a straight-line basis over the life of the warranty period. Warranty revenues included in sales for fiscal year 2009 are $15,900,000 compared to $14,541,000 in 2008. Warranty expenses deducted through cost of sales for the year 2009 are $6,666,000 compared to $5,548,000 in 2008. Required: 1. Define each of the current liabilities and identify the type of transactions that cause each liability to change (increase, decrease). 2. Determine the amount that the company received from customers to purchase deferred warranty plans during fiscal year 2009. and prepare the related journal entries to record the transactions that affected this account. 3. The company's board of directors declared dividends of $33,951 during 2009. Prepare the journal entries to record the declaration and payment of dividends during the year.

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Current liabilities Trade payables and accrued liabilities Customers' deposits Dividends payable Deferred warranty plan revenue Income taxes payable Dec. 31, 2009 Dec. 31, 2008 $83,880 15,362 4,938 16,150 $95.247 14.119 4,952 15,267 1,958