Question

Which transactions of the following will result in a contra entry in the cashbook

Answer 1

Explanation:

To record contra entries, traditionally a cash book with cash and bank columns is prepared where both the aspects of the transaction will ...

Answer 2

Explanation:

To record contra entries, traditionally a cash book with cash and bank columns is prepared where both the aspects of the transaction will

Contra Entries. 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.