Question

Which two acounts are involved in contra entry

Answer 1

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

Answer 2

Explanation:

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