In accounting for a contingent liability, if the likelihood is probable that the contingent liability will become an actual liability, but the amount of the actual liability cannot be estimated, a company is required by GAAP to:

Group of answer choices

record an asset in the amount of any potential gain from the contingency

record no liability and make no disclosures in the notes to the financial statements about the loss contingency

disclose the loss contingency in the notes to its financial statements

record a liability for the estimated loss contingency