Question #$5(5$ marks$)$

Classify each of the following items as either: a$)$

Estimated liability

b$)$ Contingent liability

c$)$ Ordinary current liability

$1.$ Union dues payable

$2.$ Operating lease

$3.$ Vacation benefits

$4.$ Warranty on $$85,749$ worth of canoes

$5.$ Unearned revenues

$6.$ Debt guarantees

$7.$ Income taxes payable

$8.$ Wages payable

$9.$ Property taxes payable

$10.10$ Accounts payable