Question

What is contra entry? How are they posted in ledger?

Answer 1

Suppose you want to send in the mail a valuable object to a friend. You have a box which is big enough to hold the object. The box has a locking ring which is large enough to have a lock attached and you have several locks with keys. However, your friend does not have the key to any lock that you have. You cannot send the key in an unlocked box since it may be stolen or copied. How do you send the valuable object, locked, to your friend - so it may be opened by your friend?