Answer Posted / k.harish kumar
CONTRA ENTRY MEANS CASH AND BANK BOTH ARE TRANSCATIONS AND
COMPANIES BANK TO BANK TRANSACTION USE ENTRY
FOR EX: 1.CASH DEPOSIT INTO THE BANK
BANK A/C
TO CASH A/C
(BEING CASH DEPOSIT INTO THE BANK)
2.BANK TO BANK TRANSFERS EX:
BANK(7921) A/C
TO BANK (7783) A/C
(BEING CHEQUE AMOUNT TRANSFER FROM BANK (7783 TO 7921))
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