what is contra entry . plz explain with example.
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Answer Posted / jayanta roy
In a single transaction where both Bank a/c and Cash a/c are involved,it is a case of contra entry.
E.g: CASH DEPOSITED INTO BANK
BANK A/C....DR
TO GASH A/C
WITHDRAWN CASH FROM BANK
CASH A/C.....DR
TO BANK A/C
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