Question

in trial balance bill receivable in debit or credit​

Answer 1

Answer:

in trial balance there is no dr. and cr.

there is only liability and assets side

Explanation:

so bill receivable will mentioned in assets side

Answer 2

ANSWER :

★ Debit

• ➻ In Trial balance, Bill Receivable will be shown on the Debit side.

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KNOW MORE :

❍ Definitions of Trial Balance :-

• ✎ According to William Pickles, " The statement prepared with the help of ledger balances, at the end of financial year or at any other day to find out whether debit total agrees with credit total is called Trial Balance".

• ✎ According to J.R. Batliboi, "Trial Balance is a statement prepared with the debit and credit balances of ledger accounts to test the arithmetical accuracy of the books".

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❍ There are three methods of preparing trial balance. These are :-

• ✎ Balance Method

• ✎ Total Amount Method

• ✎ Total and Balance Method

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❍ Items to be shown on the Debit Side of the Trial Balance :-

• ✎ Accounts of the assets; For example : Building Account, Furniture Account, Cash Account, Stock Account etc.

• ✎ Accounts of debtors and receivables; For example : Sundry Debtors Account, Bills Receivable Accounts, Accrued Income Account etc.

• ✎ Accounts of costs, expenses and losses; For example : Purchase Account, Advertisement Account, Salary Account, Loss on Fire Account etc.

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❍ Items to be shown on the Credit Side of the Trial Balance :-

• ✎ Accounts of the proprietors; For example : Capital Account, Reserve Account etc.

• ✎ Accounts of the creditors and payables; For example : Sundry creditors Account, Bills Payable Account, Outstanding Expenses AAccount etc.

• ✎ Accounts of revenue and incomes; For example : Sales Account, Commission Received Account, Rent Received Account etc.