Question

in single entry system,the credit sale is obtained from.....
a)bills receivable account
b)total debtors account
c)total creditors account
d)none of these

Answer 1

Answer:

bills receivable account

Answer 2

In single entry system,the credit sale is obtained from bills receivable account.

Explanation:

Single entry system is the system of book keeping and accounting which relies only on one sided posting of transactions

The system in which cash book and personal accounts of debtors and creditors are maintained and assets and expense/income accounts are not maintained is known as Single Entry System.

Hence,

Option (a) bills receivable account is correct.

Project code #SPJ2