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Yes,often creditors will give a discount as an incentive for the debtor to pay within a certain time frame
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∙ 11y ago
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Is bills receivable real account?
Bills receivable is a real account. When acceptance is received, Bills receivable account is debited (debit what comes in). When the bill is discounted or returned to acceptor at the time of maturity, Bills receivable account is credited (credit what goes out).
What are Bills payable and bills receivable entries?
what is bill receivable and bill payeble definition with example
What is bills accounts receivable?
Accounts receivable is money that was owed to you being paid/
What are advantages to creditors in case of note receivable than ordinary account receivable?
what are advatages of note receivables discounted to creditors
What are the assets?
debtors,stock,bills receivable etc
What is the entry for bills recievable and paid?
Bills receivable a/c dr. To debtors's personal a/c
What are the current assets?
debtors,stock,bills receivable etc
What is one benefit for accounts receivable factoring?
When factoring the business sells its accounts receivable at a discounted price. An advantage is that it is a way for a business to get money without getting a loan.
Is bills payables a real account?
No, bills payables is not a real account but it is a personal account .My answer:Bills receivable is a real account. Bills receivable for one person is bills payble for another person. The same instrument cannot be Real for one person and personal for another. Hence, in my opinion Bills payable is also a real account.
Difference between bills purchase and bills discount?
Advances made against demand bills are bills purchased While those made against usance bills are bills discounted
What does the term accounts receivable?
Accounts receivable is money that a client owes to a company. The company bills the client detailing the cost and nature of the goods acquired or services rendered on the clients behalf. It is not, however, a term used to describe debts, which are called notes receivable.
What is bills receivables and bills payables?
Accounts Receivable = money someone owes to you (you receive money in) Accounts Payable = money you owe to someone else (you pay money out)
