TeachMeFinance.com - explain Bill receivable
Bill receivable -- A written evidence of debt that is payable
to the holder; a promissory note or an acceptance (a bill of
exchange that has been accepted) is in the hands of a person
to whom it is payable a bill receivable. A bill receivable that is included under the head commercial
paper is a promissory note that has been received for goods
sold and that has in order to effect its discount (sale) been
indorsed by the party who received it.
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