Business Studies, asked by angyanu274, 11 months ago

Paid cash sales to the bank is it a contra entry

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Answered by Anonymous

3

Answer:

'C' means contra entry. Note :- If cash is withdrawn from the bank for the proprietors personal use, then it is not a contra entry. ... The firm's cash is deposited in the bank. In transactions a&b, the cash balance available with the firm is decreased, the cash in bank is increased.

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