Directions For your Initial Post due by: Thursday, 11:59pm 1. Define contingent liability. Provide three common examples when a loss would be recorded. 2. If a contingent liability is probable but estimable only with a range, what amount, if any, should the firm report? For your Response to at least 2 classmates due by : Sunday, 11:59pm 1. Ask for clarification (that is, ask questions) if needed. 2. State whether you agree or disagree with your fellow classmates and why?