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What is the difference between bills receivable and debtors brief explaination and few examples?
Wiki User
∙ 12y ago
Debtors are those people to whom we have made sales and now amount need to be received but sometime debters issue bills to use them until received money from them which is called bills receivables.
Example:
we sold goods to mr. a for $ 5000 on account and mr. a issue bill for $ 5000 so now until mr. a don't pay us if we need money we can use that bill to discount from bank and get money and at the time of payment now mr. a will pay to the bank and get back that bill from bank.
Wiki User
∙ 12y ago
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