Accountancy, asked by Harishkrishna9030, 1 year ago

Why contra entry is not posted in ledger?

Answers

Answered by Deepmala15April2005

Contra entries are the entries that affect the two accounts namely, Cash Account and Bank Account simultaneously. These two accounts appear together in the Cash Book so, the effect of Contra Entries is completed in Cash Book itself and there is no need to post them in the ledger.

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