1. Bill Receivable:-A written evidence of debt that is 
payable to the holder; a promissory note or an acceptance 
(a bill of exchange that has been accepted) is in the hands 
of a person to whom it is payable a bill receivable. A bill 
receivable that is included under the head commercial paper 
is a promissory note that has been received for goods sold 
and that has in order to effect its discount (sale) been 
indorsed by the party who received it.
2. Bill Payable:-Bill's paybles meens is before purchasing 
the bills it is not pay the money is sundry creditors when 
is pay the money that time is bill's payble credit new entry