Which of the following is INCORRECT in the context of bills of exchange?

A

The bill is treated as dishonored in case of insolvency of the drawee.

B

When the bill is honored on the due date the drawee credits Bills Payable A/c in his books.

C

When the bill is dishonored, the drawee will be debited in books of drawer whether the bill is retained, endorsed or discounted.

D

When the bill is discounted or endorsed no entry for payment of the bill is passed in the books of the drawer.