The postdated checks are considered to be an accounts receivable for accounting purpose.
<h3>What is a
postdated checks?</h3>
These are checks that is expected to make a payment to be processed on a specified date in the future.
However, in accounting, the postdated checks are considered to be an accounts receivable by a firm for accounting purpose.
Read more about postdated checks
<em>brainly.com/question/3257002</em>
#SPJ12
The flow of money received on a sometimes a weekly, monthly, or yearly basis is known as SALARY.
Salary is the compensation employees received from their employers. It can be weekly, monthly, or yearly basis depending on the contract agreement between the two parties.
Answer: $40,000
Explanation:
Kline brings in equipment that is worth $60,000 but has a basis of $45,000.
The equipment however is subject to a loan of $10,000.
This loan will have to be deducted from the basis. The partnership however is assuming the loan and Kline is only 50% liable in the partnership so Kline's basis will only be affected by half of the loan.
Basis = 45,000 - 5,000
= $40,000
