Question

why do you maintain bill book separately? state the transactions recorded in bill receivable and bill payables journals​

Answer 1

We maintain bill books separately to keep all invoices maintained as Sales, purchase, retail etc.

Answer 2

Hey mate

here is your answer

Bills Receivale Book and Bills Payable Book both record the transactions separately because of nature of transactions involved. ... Bills Payable account usually has a credit balance as it is to be paid on maturity and acts as liability for the business.

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