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Bills of Exchange MCQs
The party who receives cash for bills receivable is known as?
12. The party who receives cash for bills receivable is known as?
- Capitalist
- Bank
- Drawee
- Drawer
Answer: D) Drawer
Explanation:
How many records receivable is expanded on the charge side and diminished on the credit side? At the point when cash instalment is gotten from the borrower, cash is expanded and the records receivable is diminished. When recording the exchange, cash is charged, and money due is credited.