Journal entry for bills receivable...
Bills Receivable A/c. Dr.
To Debtors A/c
Journal entry for Bills Payable...
Creditors A/c. Dr.
To Bills Payable A/c.
3 golden rules for accounting are...
A. Debit what comes in,credit what goes out.
B.Debit the receiver,credit the giver.
C.Debit all expenses and losess,credit all incomes and profits.