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Standard XII
Accountancy
Financial Statements of NPO
Which of thes...
Question
Which of these transaction is shown as contra entry-
A
Cash deposited with bank
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B
Discount received
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C
Discount allowed
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D
Payment to sundry creditor
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Solution
The correct option is
A
Cash deposited with bank
Cash deposited with bank is affect both cash and bank therefore, it is a contra entry.
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