"There is no (...)" and "No (...) is" meaning existence.

[Abraaocoutinho]

)Hi..
I'd like to get an explanation about the following sentences:

1- There is(are) no bill(s) associated with the account.
2- No bill(s) is(are) associated with the account.

Which one can mean existence? I really don't know if both are either correct or only one can work well in English. I need to find it out because I'm translating some accounting texts at my work right now.

Thanks..
Abraão.

[Mister Micawber]

.
Both are fine. The existential-'there' simply serves to move the real subject toward the end of the sentence, where it acquires more prominence.
.
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Native English teacher at Mister Micawber's