Contra entry with example?
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Answer Posted / prakash
When you receive any cash against sale of any goods.You need
to make contra entry in your A/C system like.
Dr to cash A/C Or Party A/C
Cr to cash sales
one more entry you need do when you deposit cash in bank
Cr to cash A/C or Party A/C
Dr to Bank A/C
| Is This Answer Correct ? | 18 Yes | 6 No |
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