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what is Bills Receivables and Bills Payables?
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Answer Posted / shanker
what is Bills Receivables and Bills Payables?
Ans:- Bills Receivables is a written promise document
received from the suppliar for selling goods. Its a assets
for the company and appears in the balance sheet under
Current assets.
Bills payable:- Bills payable is a written promise document
payable to the suppliar for buying goods. Its a liability
for the company and appears in the balance sheet under
Current liability.
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