is there any difference between trade receivables and bills receivable. will sunday be taken as public holiday
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Doubts about bills of exchange
Replies (6)
Trade receivable is your total debtor,whereas bills receivable is part of debtor to whom you issued bills of exchange.Bill rec. includes in trade rec.
Sunday is considerd as Public holiday in case of bill receivable.
how to find the day of a date that is whether it is sunday or not
Agree with Nitesh' answer.
Just look it up in calendar while drawing or accepting Bills of Exchange.
In case of Bills of Exchange, you get 3 days of Grace after due date. If that day turns out to be sunday, then previous day is taken (i.e. Saturday)
In exam how will I find it
Is their any other method to find it
In exam it will be mentioned whether that day is Sunday or not. See old exam questions for better understanding
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