Question

what is contra entries and its uses??
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Answer 1

Answer:

0. iqbalhussaind3. As per the accounting principles, a contra entry is a transaction involving transfer of cash between one cash A/c to another or one cash A/c to another bank A/c i.e., is a transaction indicating transfer of funds from : * Cash account to bank account. * Bank account to cash account

Answer 2

Answer:

contra entries are the entries between bank and cash