Accountancy, asked by nishasharma21478, 7 months ago

what is contra entry​

Answers

Answered by RizaTwinkle
14

Answer:

A contra entry is recorded when the debit and credit affect the same parent account and resulting in a net zero effect to the account. These are transactions that are recorded between cash and bank accounts.

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Answered by banunaseema627
1

Answer:

A Contra entry is recorded when debit and credit effect the same parent account and resulting in a net zero effect to the account these are transaction recorded between cash and bank accounts

Explanation:

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