At the time of endorsement, the drawer credits ?

Drawee`s account

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The endorser`s personal accoount

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Bills receivable account

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None of the above

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Solution

The correct option is C
Bills receivable account

The drawer credits the bills receivable account

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Similar questions

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

	(Rs)
Bills accepted	$1, 05, 000$
Discount received	$17, 000$
Purchases returns	$9, 000$
Return inwards	$12, 000$
Cash paid to accounts payable	$50, 000$
Bills receivable endorsed to creditor	$45, 000$
Bills dishonoured	$17, 000$
Bad debts	$14, 000$
Balance of accounts payable (closing)	$85, 000$
Credit purchases	$2, 15, 000$

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