WHAT IS MEAN BY CONTRA ENTRE? & WHERE IT IS USE.

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WHAT IS MEAN BY CONTRA ENTRE? & WHERE IT IS USE...

Answer / ppadmapriya p

Any transaction indicating transfer of fundns fromk cash
account to bank account bank account to cash account and
banki account to bank account recorded in the cash book is
a contra entry.

Is This Answer Correct ?    12 Yes 0 No

WHAT IS MEAN BY CONTRA ENTRE? & WHERE IT IS USE...

Answer / ravi

a entry in which transaction is done in such a way that both
bank and cash a/c are affected . for such entry dual a/c i.e
bank and cash should be compulsorily affected.

it is used in cash book.

Is This Answer Correct ?    6 Yes 0 No

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