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

User Rogue Lad
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B. Liability

I would say it is liability because the accounts payable is usually the liability on the companies balance sheet.
User Prashant Mothukuri
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