what is the meaning of bills payable and bills receivables?
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Answer / venky
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.
| Is This Answer Correct ? | 401 Yes | 116 No |
Answer / nilesh
Bills payable is liability document of company which shows
its liability towards creditor from it whom company has
purchase some thing and bills receivable is asset document
which shows our debtors liability to us i.e how much amount
we have to rececieve from that person,
| Is This Answer Correct ? | 200 Yes | 48 No |
Answer / sheela
Bills Payable:the outstanding unpaid notes or acceptances
made and issued by an individual or firm.
Bills receivable: the unpaid promissory notes or
acceptances held by an individual or firm.
| Is This Answer Correct ? | 164 Yes | 63 No |
Answer / priyadharshini.b
bills payable means the amount which is paid by the
organisation to the vendor for their credit purchases.
bills receivable the amoung which is collected by the
organisation from the customer for their credit sale
| Is This Answer Correct ? | 139 Yes | 53 No |
Answer / asit kumar padhiary
When the amount is received from the debtors for their
credit sale is called as Bills receivables.
When the amount is paid to the creditor for their credit
purchase is called as Bills payable.
| Is This Answer Correct ? | 115 Yes | 41 No |
Answer / anjali
from org. point of view
bill payable is a liability of company toward creditor from
whom it has purchase something.
bill receivable is an asset of company. it shows our debtor
liability to us.
bill payable is just like creditor and bill receivable is
like debtor.
| Is This Answer Correct ? | 73 Yes | 14 No |
Answer / mallu s.k
Bills payable means the amount which is paid by the
organisation to the vendor for their credit purchases is
known as bills payable.
Bills receivables means the amount which is collected by
the organisation from the customer for their credit sale is
known as receivables.
| Is This Answer Correct ? | 79 Yes | 40 No |
Answer / peter abubakari
bills payable is an obligation of a firm/organization to
make good at a later date.i.e amount owing by an
organization to outsiders which should be settled in a
future date.
bills receivable is an amount due to an organization owing
by outsiders which should be made good in a future date.
| Is This Answer Correct ? | 49 Yes | 22 No |
Answer / amit laddha
bills receivables is nothing but the amount receivable from
the customers for which the negotiable instrument in the
form of bill of exchange is received from the customer.
bills payable is nothing but the payable to the suppliers
for which the negotiable instrument in the form of bill of
exchange is given to the suppliers.
| Is This Answer Correct ? | 42 Yes | 16 No |
Answer / paras
Bills payable is liability document of company which shows
its liability towards creditor from it whom company has
purchase some thing and bills receivable is asset document
which shows our debtors liability to us i.e how much amount
we have to rececieve from that person
| Is This Answer Correct ? | 41 Yes | 18 No |
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