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what is the difference between debtors & bills recievable?
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Answer / sneha
Debtors is a person to whom we have given money like we
might have sold the goods to customers on credit basis.
Biils receivable is nothing but it is the money which we
need to receive against the Bills of exchange.B/E isthe
agreement B/w the buyer &the seller if the seller has sold
the goods on credit If the seller is in need of money he
may go to the banker &present the bill which is signed by
the buyer for payment The bank won't pay the full amount it
will pay the amount lessthan the actual amount remaining
amount will be treated as service charge. here 3days grace
period will be given if the bill matures on the due date.
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / binu.vs
Debtors means to whom liable to pay the company those are debtors. And Bills receivable is the receivable amount of a company on the basis of agreement/Bill of Exchange
| Is This Answer Correct ? | 3 Yes | 2 No |
If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable/TDS payable a/c. kindly clarify
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