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what is bills payable and bills receivable?

Answers were Sorted based on User's Feedback



what is bills payable and bills receivable?..

Answer / meenakshi

Bills receivable is also called B/R.When we purchase
material etc from a party the a bill is created by the party
(called vendor) which is called bills receivable for the
vendor and bills payable for us.

Is This Answer Correct ?    3 Yes 5 No

what is bills payable and bills receivable?..

Answer / buddhpal

Bills is also payable and receivable. because bills when
we purchase any thing, and receive also when we sell some
goos to other party. so both are right.

Is This Answer Correct ?    0 Yes 4 No

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