The correct answer is Bills Receivable Account Dr. To Drawee of the BillBill of Exchange: A bill of exchange is an agreement between two parties in which one party is bound to pay a certain amount of money to the other party on a specified date or on order. It is a type of Negotiable Instrument which allows the buyer and seller to carry out credit operations. It is an "unconditional order" and has to be signed by both parties. Bill Receivable: A bill of exchange drawn by the person on its debtor to whom the goods had been sold is called Bill Receivable. This account is categorized as a Real Account. Drawee A/c: This account is the debtor's personal account who has to make payment to the drawer against the bill drawn upon him. Three Golden Rules: Personal Account - debit the receiver, credit the giverReal Account - debit what comes in, credit what goes outNominal Account - debit all the expenses and losses, credit all the incomes and gainsImportant PointsSince drawer has sold the goods to the drawee on credit and is entitled to receive the payment, he will debit the Bills Receivable A/c and credit the Debtor's A/c (here Drawee A/c). Additional InformationDrawer: The drawer of a bill is a person who actually has sold the goods on credit to the other party. He draws the bill upon the buyer. Drawee/ Acceptor: Drawee or Acceptor is the person who has purchased the goods on credit from the seller. He is the person upon whom the bill is drawn, and he accepts the order to make the payment. Payee: The payee is the person who holds the bill at the time of payment and is entitled to receive the payment.