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Under which of the following situations, is journal entry not passed in the books of the drawer?
Accountingmedium
is the correct answer
Ba journal entry debiting bills sent to bank for collection and crediting Bills Receivable is passed. When a bill is renewed at the request of the drawee
Ca journal entry is passed canceling the old bill and raising a new bill with interest. When a debtor accepts a bill drawn by the drawer
Dwhen a debtor is converted to bills receivable and debtors balance is reduced and Bills Receivable account is increased to extent of the amount passing a journal entry to that effect. Thus,
Correct Answer: A. is the correct answer
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