Contra entry with example?
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Answer Posted / anoj
when in a transaction both cash and bank accounts are
affected then contra entry arises.
e.g.1. cash deposited into bank.
in bank account
cash a/c dr
to bank a/c
in cash a/c
Bank a/c dr
to cash a/c
| Is This Answer Correct ? | 322 Yes | 85 No |
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