The total of the amount of the bills receivable book is posted to the _______in the ledger.

Dr. of bills payable account

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Cr. of bills payable account

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Cr. of bills receivable account

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Dr. of bills receivable account

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Solution

The correct option is C Cr. of bills receivable account
The total of the amount of the bills receivable book is posted to the credit of bills receivable account in the ledger.

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Similar questions

Q. Question : Prepare the bills payable account from the following and find out missing figure if any.

	(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	$2, 15, 000$

Prepare the bills payable account from the following and find out missing figure if any :

	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

Q. Rectify the following errors by passing Journal entries:
(i) A sum of ₹ 470 received from Ganga was posted to her debit as ₹ 740.
(ii) A debit balance of ₹ 550 in the personal account of Mr. John was undercast.
(iii) Bills Receivable from Brown for ₹ 3,000 posted to the credit of Bills Payable Account and credited to Brown’s Account.
(iv) Goods returned by Mridul ₹ 225 have been entered in the Returns Outward Book.

Q. Bills receivable account is a/an ___________.

Prepare the bills payable account from the following and find out missing figure if any

$\begin{matrix} (R s .) Bills accepted & 1, 05, 000 Discount received & 17, 000 Purchases returns & 9, 000 Return inwards & 12, 000 Cash paid to accounts payable & 50, 000 Bills receivable endorsed to creditor & 45, 000 Bills dishonoured & 17, 000 Bad debts & 14, 000 Balance of accounts payable(closing) & 85, 000 Credit purchases & 2, 15, 000 \end{matrix}$

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The total of the amount of the bills receivable book is posted to the _______in the ledger.

The correct option is C Cr. of bills receivable accountThe total of the amount of the bills receivable book is posted to the credit of bills receivable account in the ledger.

The correct option is C Cr. of bills receivable account
The total of the amount of the bills receivable book is posted to the credit of bills receivable account in the ledger.