The opening and closing balances of bills receivable amount can be calculated by preparing the
Answers
Answer:
It can be prepared by writing the cost of things and etc
Explanation:
Answer:
Bills receivable book
Date: In this column, the date of the acceptance of the bill is recorded.
From whom received: In this column, the name of the debtor, who has accepted the bill and promised to make its payment, is recorded. ...
Term or period: The bill is drawn for a specified period.
Explanation:
When the drawee (customer) accepts the bill and sends it back to the drawer (vendor), it becomes a bill receivable for the drawer as the money is receivable for him. On the other hand, accounts becomes a bill payable for the drawer as it is a liability for him
Dr. Bills Receivable Account Cr.DateParticularsJ.F.Amt. (Rs.)DateParticularsJ.F.Amt. (Rs.) Balance b/d75,000 Debtors A/c Debtors A/c(Bill dishonoured) 25,000(Bills receivable Cash A/cacceptance)1,60,000(Bills dishonoured)1,30,000(Balancing Figure) Bill Endorsed 15,000 Balance c/d 65,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯2,35,000––––––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯2,35,000––––––––––––––––––––
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