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what is the difference between debtors & bills recievable?
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Answer Posted / 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.
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