When acceptor becomes insolvent then which account drawer debits?

When an acceptor becomes insolvent, the drawer of the bill of exchange typically debits the "Bills Receivable" account to reflect the loss of the expected payment. Additionally, the drawer may also record a debit to a "Loss on Bad Debts" or "Provision for Doubtful Debts" account, depending on their accounting policies. This entry acknowledges the default on the bill and adjusts the financial records accordingly.