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.
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.
Accounts receivables?
Receivables means those who owes money to the organisation.