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Bills Receivable Book:

Learning Objectives:

  1. Define and explain bills receivable book.

  2. Prepare a bills receivable book and post into ledger.

Definition and Explanation:

Bills receivable book is used to record the bills received from debtors. When a bill is received, details of it are recorded in the bills receivable book.


In the ledger the account of the person from whom each bill is received is credited with the amount of that bill and the periodical total of the book is posted to the debit of bills receivable account.

the bills receivable book is ruled according to the requirements of a particular account.

Format of Bills Receivable Book:

The following is the format of bills receivable book:

(1) Bills Receivable Book

No. of Bills Date From whom received Drawer Acceptor Where payable Term Due date L.F. Amount Remarks

(2) Bills Receivable Book

Date From whom received Term Due date L.F. Amount


From the following transactions of a trader prepare the bills receivable book and post it into ledger:-

January 5 Drew a bill on Abdullah & Co. at 2 m/d for $700.
"     10 Acceptance received from Rahim Bakhish at 3 m/d for $ 1,000.
"     20 A. Riaz gives his acceptance at 3 m/d for $800.
"     30 Bill at 2 m/d for $100 is drawn on Bashir.


Bills Receivable Book

Date Particulars Term Due Date L.F. Amount

Jan. 5
"  10
"  20
"  30

Abdullah & Co.
Rahim Bakhish
A. Riaz


2 m/d
3 m/d
3 m/d

March 8
April 13
"     21
March 3

Bills Receivable Account

Jan. 30

By Sundries as per B/R Book





Abdullah & Co.




Jan. 5


By Bill receivable


Rahim Traders





Jan. 10


By Bill receivable


A. Riaz




Jan. 30


By Bill receivable






Jan. 30


By Bill receivable


You may also be interested in other articles from "subdivision of journal" chapter:

  1. Definition and Explanation of Cash Book
  2. Single Column Cash Book
  3. Two Column Cash Book/Double Column Cash Book
  4. Three Column Cash Book
  5. Bank Reconciliation Statement
  6. Petty Cash Book
  7. Purchases Day Book
  8. Purchases Returns Book
  9. Sales Day Book
  10. Sales Returns Book
  11. Bills Receivable Book
  12. Bills Payable Book
  13. Journal Proper


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