Bill receivable account

After exchanging a transaction for a bill receivable, the transaction is reduced by the exchanged amount.Bill receivable account occur when the bill receivable is accepted by the drawee or when a bill receivable that does not require acceptance is completed.
The initial accounting for a bill receivable is a debit to Bills Receivable and a credit to Accounts Receivable for each transaction exchanged. Receivables derives the Bills Receivable account segments from Auto Accounting and inherits the Accounts Receivable account segments from each transaction exchanged.