Tag: posting of entries in ledger
Questions Related to posting of entries in ledger
A bill given to a creditor is called bills payable.
The total of Bill Payable Book will always show ____________ balance.
_______________ is real account in nature and also an asset and will always show debit balance.
Bills Payable book is to keep a record of ____________.
Bills Receivable book is to keep record of ___________.
The total of Bill receivable book will always show ________________.
The bank rate means ____________________________________.
On drawing a bill of exchange the drawer debit __________.
____________ is designed as a summary of all the bills accept by the firm for which payment has to be made on specified dates of maturity in future.
The entry related to honouring the bill is recorded in ____________.