A and B form an equal partnership, AB partnership, with A contributing stock worth a value of $10,000 and a basis of $10,000, as well as land with a value of $10,000 and a basis of $7,000. B contributes accounts receivable (which resulted from their business) with a value of $20,000 (B was on the cash basis). Describe the consequences to A, B, and the AB partnership as a result of these contributions.