under what circumstances would you prepare bills receivable account and payable account while prepare final accounts from incomplete records explain
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Preparing a trading account is the first stage in of final accounts of a trading concern. ... Accounts from Incomplete Records ... Ascertainment of Bills Receivable and Bills Payable.
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Incomplete records refers to a situation in which an organization is not using double-entry bookkeeping. Instead, it is using a more informal accounting system, such as a single-entry system, to maintain a reduced amount of information about its financial results
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