account is debited in the books of drawee at the time of honoring the bill.

Bills receivable

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Bills payable

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Bank

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Drawer's

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Bills payable
When the bill is honored by the drawee, the journal entry will be

Bills Payable A/c Dr.
To Cash/ Bank A/c

Suggest Corrections

Similar questions

Which account shall be debited in the books of drawee, when the bill is endorsed by the drawer.

Which of the following accounts shall be debited in the books of drawee at the time of payment?

Join BYJU'S Learning Program