Question

bills receivable to disclose under​

Answer 1

Answer:

Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers. Accounts receivables are listed on the balance sheet as a current asset.

Answer 2

Answer:

Bill receivables are also known as accounts receivables. They are disclosed in the balance sheet under the heading current assets

Explanation:

A bill receivable is an exchange bill drawn up by the seller to his client/buyer. It serves as proof of credit. When the nominee (customer) accepts the debt and returns it to the cupboard (seller), it becomes a bill that comes from the cupboard as the money is received by him. On the other hand, it becomes a debt paid to the drawer as it is an obligation to him.