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NEED PERSON FOR ACCOUNTING BILL OF EXCHANGE​

Answer»

ong>Answer:

Accounting Treatment

Bills Receivable − If we have to receive the payment against bills of exchange or promissory note, it will be CALLED as “Bills Receivable” and will be shown in the ASSET SIDE of Balance-sheet under Current Assets. Bills Payable − Bills payable is current liabilities in hand of Drawee.



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