The AB Partnership purchases plastic components and assembles childrens toys. The assembly operation requires a number of

Question:

The AB purchases plastic components and assembles children’s toys. The assembly operation requires a number of special machines that are housed in a building the owns. The has depreciated all its property under MACRS. The sells the toys on account to a number of retail establishments and uses the accrual method of accounting. Identify any items you think might be classified as unrealized receivables.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...