Bank a/c....Dr.
To Debtor's A/c
Is this journal entry a contra entry?
Answers were Sorted based on User's Feedback
Answer / veena
No this is not a contra entry this is a receipt entry
In contra we have to enter only the transaction between owner and the bank for example
withdraw from the bank, deposit to bank to his account
but debtor's is a third party to bank
Is This Answer Correct ? | 11 Yes | 3 No |
Answer / raghu.v
Its not Contra entry.
Contra means "Two"
When transaction happens betweeen
Bank to Cash
Bank to Bank
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / murali
it is not a contra entry it is receipt of cash for previous credit sales now receiving
Is This Answer Correct ? | 2 Yes | 0 No |
what is amortization or what is the use of amortization?
what is fundamentals of accounting ?
Expand ________DCE
Pls Give me Solution for me. Bcz i m persuing b.a iii But now i m working in accounts . So what i do In future .
what is the bills payble and bills receivable
Mening of Earning per share?
What is meant by provision
How do u prepare Cost sheet? on what basis it is prepared how it is useful to the management?
How to calculat closing stock?
what is contigent liability and state some examples also.
what is monetary polasy and how it is different from trade polacy? how it will impact on stockmarkets in India?
Expand BFSI