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what is bill receivable and bill payeble definition with example
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∙ 13y ago
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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.
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).
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
Accounts payable vs bills payable?
account payable is a current liability for item purchased on credit
Under what circumstances would bills receivable account and bills payable account prepared while preparing final accounts from incomplete record?
There really is not any reasons as to why there would be an incomplete record. The only way would be from a computer error or just someone providing the incorrect information.
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.
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)
What are bills receivables and bills payable?
ganta h bills payable dimag k ma mt chodo
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).
Definition of bills payable?
what is bills payble
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
What is the entry for bills recievable and paid?
Bills receivable a/c dr. To debtors's personal a/c
What is bills accounts receivable?
Accounts receivable is money that was owed to you being paid/
What are the assets?
debtors,stock,bills receivable etc
What are the Journal entries for treasury bills purchased on discount?
debit cash credit bills purchase
Accounts payable vs bills payable?
account payable is a current liability for item purchased on credit
What are the current assets?
debtors,stock,bills receivable etc
