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vovangra [49]
2 years ago
11

Ben's Bookstore buys $500 worth of books on credit to sell in its retail store. When Ben records this transaction, how should he

list this $500
Business
1 answer:
shusha [124]2 years ago
6 0

Based on the fact that the books were bought on credit, to sell at Ben's Bookstore, the $500 should be listed separately as assets and liabilites.

<h3>How should Ben list the $500?
</h3>

The $500 is a liability because Ben acquired the books on credit which means the store owes the supplies for them.

The $500 is also an asset however because it represents stock in the business which makes it a current asset.

Find out more on recording liabilities at brainly.com/question/25687338.

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