Accountancy, asked by touseefsultan5456, 3 months ago

NEED PERSON FOR ACCOUNTING BILL OF EXCHANGE​

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Answered by aisha2006oppo
1

Answer:

Accounting Treatment

Bills Receivable − If we have to receive the payment against bills of exchange or promissory note, it will be called as “Bills Receivable” and will be shown in the Asset side of Balance-sheet under Current Assets. Bills Payable − Bills payable is current liabilities in hand of Drawee.

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