Recording Transactions of Bill of Exchange
Abida Rehman Recording Transactions of Bill of Exchange: For the purpose of accounting, bills are classified under two heads: Bills receivable Bills payable Bills Receivable: A bill of exchange is treated as…
Dishonour of a Bill of Exchange
Learning Objectives: Make journal entries when a bill of exchange is dishonoured by the drawee. Definition and Explanation: A bill of exchange is said to be dishonored when the drawee…
Discounting a Bill of Exchange
Discounting a Bill of Exchange: Learning Objectives: Make journal entries in the books of creditor and debtors at the time of discounting of bill of exchange. If the holder of…
Difference Between Bill of Exchange and Cheque/Check
Difference Between Bill of Exchange and Cheque/Check: Learning Objectives: What is the difference between bill of exchange and cheque/check? Check Bill of Exchange It is drawn on a banker It…
Difference Between Bill of Exchange and Promissory Note
Difference Between Bill of Exchange and Promissory Note: Learning Objectives: What is the difference between bill of exchange and promissory note? A bill of exchange differs from a promissory note…
Bill of Exchange for Collection
Shamsa Rafique Bill of Exchange for Collection: Learning Objectives: Make journal entries in the books of creditor, debtor, and that of bank when a bill of exchange is sent to the bank…
Endorsement of Bill of Exchange
Sana Ahmed Endorsement of Bill of Exchange: Learning Objectives: What are the journal entries in the books of drawer, acceptor and endorsee when a bill of exchange is endorsed by the drawer?…
Accommodation Bills of Exchange
Sidra Farid Accommodation Bills of Exchange: Learning Objectives: Define and explain an accommodation bill of exchange. What is the difference between trade bill and an accommodation bill? Make journal entries in the…