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.

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.

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