Question

Which account will be debited in the books of acceptor at the time of discharge of a bill?​

Answer 1

While preparing the journal entry for discharge of bill, Bills payable account is debited and Drawer account is credited.

Answer 2

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.