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Bill payable is a personal account and only cash and bank accounts are real accounts in accounting.
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∙ 2014-07-20 16:05:58
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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.
Definition of bills payable?
what is bills payble
Why would Accounts payable increase?
payment to account payble has increase
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 would be journal entry to accrue the expenses?
Expences head a/c To, expences payble account
What is the difference between account receivable and accounts payable confirmation?
account receivable- money coming in for profit account payble-money going out for a expense
Which best type of account for money you use to pay regular bills?
The best type of account for money you use to pay regular bills is a checking account.
Is capital account is real account or nominal account?
Real Account
Is debtor account a real account?
Yes, it is a real account
Is bank account is real account or personal account?
It is Personal Account and Cash A/c is actually real account.
Is Sales Account nominal or real account?
real accounts
What is the due date for professional tax payble in madhya pradesh?
15th day of the following month
