What is contra entry how to post the entry
The Contra Entry means Bank - Cash or Cash - Bank or Bank - Bank Tanscation made a entry as contra entry.
FOR EXAMPLES:
CASH DEPOSITED IN BANK:
BANK A/C DR.
CASH A/C CR.
CASH WITHDRAWN FROM BANK:
CASH A/C DR.
BANK A/C CR.
FUNDS TRANSFER: (A COMPANY A/C IN VARIOUS BANKS)
ICICI BANK A/C DR.
IDBI BANK A/C CR.
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