Question

A endorsed a bill drawn on B for Rs.5,000 in favour of c. on the due date bill is honoured by B.
which account will be debited by B in his books?
a) Bills Payable
b) Cs Account
c) A's Account
d) Bills Receivable

Answer 1

Answer:

(d) Bills receivable. .

Answer 2

Bills receivable

Bills receivable is a record or a bill of trade that is created when the merchant deals with a few products using a credit card to a client. It is a kind of proof giving affirmation to the dealer from the client that he/she will pay the sum on a concurred future date to the vendor. It is by and large made by the dealer and endorsed by both the client and merchant tolerating the agreements written in the bills receivable.