When bill is retained ____________entry is passed.

Drawee A/c DR
To Bill receivable A/c A/c

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Bill receivable A/c DR
To Drawee A/c

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Bill receivable A/c DR
To Cash A/c

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None of the above

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Solution

The correct option is B None of the above
In case of honor

Cash/Bank A/c Dr.
To Bills Receivable A/c
(Being bill retained till maturity and payment received)

Suggest Corrections

A.Consignment A/c Discount A/c To Bills Receivable A/c	Dr. Dr.
A.Bank A/c Profit & Loss A/c To Bills Receivable A/c	Dr. Dr.
C.Bank A/c Consignment A/c To Bills Receivable A/c	Dr. Dr.
D.None of the above.

In case of honor	Cash/Bank A/c	Dr.
	To Bills Receivable A/c
	(Being bill retained till maturity and payment received)