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The nature of this accounting entry is a “Contra Entry”. Contra is a Latin word meaning “the other side” or “Opposite”. In case of Cash Book affairs, a Contra entry is an adjustment entry which does not affect your total fund position as debit and credit aspects of a single transaction are entered in the same account, but in different columns.
It Is Contra Entry Debit Bank A/c , Credit Cash A/c
contra entry --------------------------------------------------------------------
Debit Cash in Bank
Credit Cash on hand
This is Contra Entry. The journal entry will be as follows:
Bank Account Dr.
to Cash Account
this is a contra entry --------
Contra entry.,,,,,,,?????????????????????
Bank a/c---------Dr
To Cash a/c
(Being Cash deposited
into Bank)
BANK A/C DR
CASH A/C CR
contra entry
Bank A/c dr
Cash A/c cr