Bello withdraws cash from bank to office, this is called ---------- entry

Assessment: JAMB UTME - Principles of Accounts - 2023 Subject: Financial Accounting

Question 1 Report

Bello withdraws cash from bank to office, this is called ---------- entry
Answer Details
Contra entry is an entry which is recorded to reverse or offset an entry on the other side of an account. If a debit entry is recorded in an account, it will be recorded on the credit side and vice-versa.
Read lesson note on Cashbook (JAMB)
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