Business Studies, asked by sunday678, 7 months ago

what is contra entry and double entry in bookkeeping?

Answers

Answered by swamiraghuram

Answer:

In the dual entry accounting system, a contra entry is an entry which is recorded to reverse or offset an entry on the other side of an account. If a debit entry is recorded in an account, it will be recorded on the credit side and vice-versa.

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