Q125
Postdated cheques are considered as
A.
Cash
B.
Bank balance
C.
Accounts receivable
AnswerD.
Cash reserve
Answer: Option C
Solution
Answer: Option C
Solution:
Postdated cheques are considered as Accounts receivable. If the postdated check was received as payment on accounts receivable, the accounts receivable balance is not reduced until the date of the check.