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What is 'Due Date of a Bill'? - Book Keeping and Accountancy

What is 'due date of a bill'?

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Solution

The date on which the payment of the bill becomes due is called the due date or the date of maturity. While calculating the due date, it is necessary to add three days to the period of a bill. These three days are called "days of grace".

Concept: Important Terms of Bills of Exchange - Due Date
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