hi can anyone tell me the difference between receivables and debtors . its from the chapter ratios
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difference btw receivables n debtors
Replies (2)
Receivables Includes Bills or B/R generated against debtors + Debtors.
Debtors includes only those parties from whom money is to be received and excludes Bills or B/R generated against debtors.
Receivables can be interpreted in two ways
1. Bills receivables
2. Accounts receivables
Bills receivables - when debtors accepts promissory notes or bill of exchange , debtors turns to bills receivables
Accounts receivables - bills receivables + debtors
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