What is meant by contra entries and prepare the prepare of three columnar cash book
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If an entry is made on the debit side and the same entry is recorded on the credit side of the cash book, it is called a “contra entry“. In order to distinguish the contra entries from other entries, letter “C” is put in posting reference column against these entries on both debit and credit sides of the cash book.Mar
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If an entry is made on the debit side and the same entry is recorded on the credit side of the cash book, it is called a “contra entry“. In order to distinguish the contra entries from other entries, letter “C” is put in posting reference column against these entries on both debit and credit sides of the cash book.
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