Accounting - what is bills receivable?

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what is bills receivable?

Total Answers and Comments: 2

Last Update: February 23, 2007 Asked by: deepak

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Submitted by: mohdazam

BIILS RECEIVABLE IS AN CURRENT ASSET TO THE BUSINESS, WHEN V SELL TO ANY CUSTOMER IF HE CANT PAY THE AMT V GIVE HIM A DOCUMENT ASKING HIM TO PAYING WITHIN A SPECIIFIED TIME.

EXAMPLE : MR.X SOLD GOODS TO MR.Y FOR RS.10000/- AND MR.Y IS NOT IN A POSITION TO PAY THE AMOUNT SO MR.X GIVE A DOUMENT TO MR.Y TO SIGN AND GIVE IT BACK TO HIM. HE WILL KEEP AS A ASSET TILL THE DUE DATE.

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MANISHA BHUTANI

December 28, 2006 10:40:38

shailendra kumar

RE: what is bills receivable?

BILLS RECEIVABLE in merchant accounts are all promissory notes bills of exchange bonds and other evidences or securities which a merchant or trader holds and which are payable to him.

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February 23, 2007 23:33:16

mohdazam

Member Since: February 2007 Contribution: 3

RE: what is bills receivable?

BIILS RECEIVABLE IS AN CURRENT ASSET TO THE BUSINESS WHEN V SELL TO ANY CUSTOMER IF HE CANT PAY THE AMT V GIVE HIM A DOCUMENT ASKING HIM TO PAYING WITHIN A SPECIIFIED TIME.

EXAMPLE : MR.X SOLD GOODS TO MR.Y FOR RS.10000/- AND MR.Y IS NOT IN A POSITION TO PAY THE AMOUNT SO MR.X GIVE A DOUMENT TO MR.Y TO SIGN AND GIVE IT BACK TO HIM. HE WILL KEEP AS A ASSET TILL THE DUE DATE.

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