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📖 generic · CBSE Class 11 English medium · ACCOUNTANCY · Page 8

For the person who draws the bill of exchange and gets it back after its due

Chapter 8: Bill of Exchange · ACCOUNTANCY

For the person who draws the bill of exchange and gets it back after its due acceptance, it is a bill receivable. For the person who accepts the bill, it is a bills payable. In case of a promissory note for the maker it is a bills payable and for the person in whose favour the promissory note is drawn it is a bills receivable.

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