For accounting purposes, postdated checks (checks payable in the future) are considered to be
A) money orders.
B) cash.
C) petty cash.
D) accounts receivable.

Name: For accounting purposes, postdated checks (checks payable in the future) are considered to be A) money orders. B) cash. C) petty cash. D) accounts receivable.
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Question

Quizplus · Accepted Answer

Postdated checks are not considered as cash until they are actually deposited or cashed. Rather, they are considered accounts receivable.

For Accounting Purposes, Postdated Checks (Checks Payable in the Future)