Answer Posted / ammu
contra entry is an entry in which opposite entry is posted &
it should be posted on both sides of three column cash
book.It occurs in case of two transactions namley :
when cash deposited into bank
Bank a/c ......Dr
To cash A/c
when cash withdrawn from bank
cash a/c ..........Dr
To Bank a/c
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swagat staryed business on 1st jan 2005 with cash on hand Rs. 10000
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