How to write contra entry for the following transaction: "Govind cheque deposited into bank". 3500. Please solve it fast my friends....
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contra Entry indicates the movement of cash from one account To another.. This is why it is presented on the both sides of a single account..The final Effect being Nil..
To cash 3500 in the Debit Side
By Bank 3500 in the credit Side of the cash book
To cash 3500 in the Debit Side
By Bank 3500 in the credit Side of the cash book
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