What is a contra entry?

1.	What is a contra entry?
Answer» Contra entry means recording on both the side if the debit as well as credit like if a business deposits its cheque into the bank than it involves both cash as well as bank.<br>Contra entry is a transaction which involves both cash and bank. Both debit aspect and credit aspect of a transaction get reflected in the cash book. For example:Cash received from debtors and deposited into bankCash withdrawn from bank for office use

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