11-08-2021
Business

contestada

if a transaction says started a business with cash 80000 Rands in bank is it a contra entry?

Respuesta :

hnobleman hnobleman

11-08-2021

Answer:

yes

Explanation:

because, Contra entries are those entries in which same account can be debited and credited in contrary situation. For example we debit Bank account when depositing cash.At the same time we credit bank account when withdrawing money from bank.

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