Bill Receivable

In mercantile law. A promissory note, bill of exchange, or other written security for money payable at a future day, which a merchant holds. So called because the amounts for which they are given are receivable by the merchant. They are entered in a book so called, and are charged to an account in the ledger under the same title, to which account the cash, when received, is credited. See Pars. Notes & Bills.

A promissory note, hill of exchange, or other written instrument for the payment of money at a future day, whi<h a merchant holds. So called because the amounts for which they are given are receivable by the merchant. They are entered in a look so called, and are chargi '1 to an account in the ledger under the same title, to which account the cash, when received, is credited.- See Pars. N. & B.

Inawmerchant’s accounts, all notes, drafts, checks, etc., payable to him, or of which he is to receive the proceeds at a future date, are called “bills receivable,” and are entered in a ledger-aecount under that name, and also noted in a book bearing the same title.