A Bill receivable was NOT paid at maturity. Which of the following will be included in the journal entry to record the dishonouring of the bill at maturity?

Name: A Bill receivable was NOT paid at maturity. Which of the following will be included in the journal entry to record the dishonouring of the bill at maturity?
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

When a bill receivable is dishonoured, the amount is transferred back to accounts receivable, as the debtor still owes the money.

A Bill Receivable Was NOT Paid at Maturity