Answer / lokesh

bills payable means, when the firm made credit purchases at
the time creditor write bill on the firm that amount , firm
and creditor both are accept. the is called bills payable.


bills receivable means like wish here firm write the bill
on debtor at that amount pay to this will pay in future
this is called bills receivables.

Answer / sanjay

Bills payable(LIABILITIES) is the amount which is to be paid
by company to it's creditor for it's credit purchases maid
and Bills receivable(ASSETS) is the amount which a company
have to receive from debtor for it's sales.

Answer / rahul jha

When bill is drawn by creditor against the credit purchase
and the payment will be recived in future agst that bill
is known as bills payable,and bill accepted by the debtor
and payment will be received against that bill is known as
bills receivable

Answer / prabhakar

Account payable means it is an short term debts of an
orgnaisation, where as account recievable means the amount
which owes to orginasation by its debtors.

Answer / amit dass

bill payable is liability for a company and bills receivable is asset of a company

Answer / jp

bills payable means what we have to paid to sundry creditors. it arraised at the time of credit purchases
bills receivable arraise same as bills payable but it arraise on credit sales.

Answer / nikhil

When a company purchases goods or services on credit, it
will increase its accounts payable (a current liability).
When a company sells goods or services on credit, it will
increase its accounts receivable (a current asset).

Answer / neetu

bill recievable is the document drawn on our debtor stating a sum of money which is to be paid by the debtor in future whereas bill recievable is a document accepted by the person in favour of his creditor statin a sum of money which is to be paid by him

Answer / busisekile sibanda

this is when a company and the creditor (or debtor) agree
upon a certain amount to be paid at a certain date. unlike
creditors and debtors these bills can be negotiated .these
have the same treatment as current assets i.e bills
recievable and the same treatment as current liabilities
i.e. bills payable .these mature at a specified date as
agreed upon by two parties ,the creditor and company ,
debtor and company .

Answer / ramakanta behera

A bill in respect of which a person has to receive money is called bill receivable
A bill which is accepted by a party and for which he has to pay the money is called bill payable

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