which account is debited in the books of drawee at the time of discharge of bills receivable
(a) endorsee's account
(b) Cash account
(c) Bills payable account
(d) Drawer's account
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I think bill payable account is the correct answer....
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ANSWER
A bill is discharged by payment in due course by or on behalf of the drawee or acceptor. While preparing the journal entry for discharge of bill Bills payable account is debited and Drawer account is credited.
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