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what is the entry for accounts receivables and accounts
payables? what is the entry for bills receivables and bills
payables?
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Answer / priyanka
BR A/c dr
To A
( bill received from a)
Z a/c dr
To B/P
(bill issued to z)
| Is This Answer Correct ? | 59 Yes | 7 No |
Answer / dev
When the B/R received from the party (for ex- A)
B/R a/c...........DR
To A
(Being B/R received from the party.)
When the received B/R deposited into the bank.
Bank a/c..........DR
To B/R a/c
(Being B/R deposited into the bank.)
When the B/P given to the party for (ex- A)
A a/c............DR
To B/P a/c
(Being B/P issued to the party).
When B/P cleared by the bank
B/P a/c............DR
TO bank a/c
(Being B/P cleared )
| Is This Answer Correct ? | 41 Yes | 2 No |
Answer / pallavi
1)Purchased 2500Rs of bike parts on accounts payable in 30days
Bike parts A/c dr 2500
To A/P A/c 2500
2)Collected Rs425 from customers A/c
Cash A/c Dr 425
To Customers A/c 425
| Is This Answer Correct ? | 17 Yes | 3 No |
Answer / m.yousaf
You should treat the recievables A/c as Sale Ledger Control
A/c i.e as a Debtors A/C. N Payables as Creditors A/C or
just like Purchase Ledger Control A/C.
Example:
Bank/Cash Dr
Recievable A/C Cr
(as debtors are reduced when you recieve the payment)
Payables Dr
Bank/Cash Cr
| Is This Answer Correct ? | 13 Yes | 3 No |
Answer / ramulu
Accounts recevable and bills recevable are same and at the
same time Accounts payables and Bills payables are same
1)Detors A/c Dr
To A.R/B.R A/c
2) A.p/B.p A/c Dr
To Creditors A/c
| Is This Answer Correct ? | 11 Yes | 6 No |
Answer / venugopal redddy
The Q? is improper bcose it doesn`t specify in who`s books
the entry should be made. In the books of Drawee/ Drawer
| Is This Answer Correct ? | 2 Yes | 1 No |
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