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5. Owes First National Bank $350 (Accounts Payable) A. Asset C. Both B. Liability D. Neither

5. Owes First National Bank $350 (Accounts Payable) A. Asset C. Both B. Liability D. Neither
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1 vote
5. Owes First National Bank $350 (Accounts Payable) A. Asset C. Both B. Liability D. Neither

asked
User Rogue Lad
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1 Answer

2 votes
B. Liability

I would say it is liability because the accounts payable is usually the liability on the companies balance sheet.
answered
User Prashant Mothukuri
by
8.0k points
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