Answer Posted / anjali
Contra entry is a entry we normaly do in tally for entry of
bank to bank transfer transaction, cash to bank or vice
vesa.
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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Expand---------PSRT
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