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Journal for Endorsment

When drawee p...

Question

When drawee pays the amount on due date of endorsed bill, cash a/c will be debited and___a/c will be credited in the books of Endorsee.

A

Bills Receivable

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B

Bills Payable

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C

Endorser

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D

None of these

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Solution

The correct option is A
Bills Receivable

Cash a/c will be debited and bills receivable a/c will be credited in the books of endorsee.

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