What Is The Purpose Of Contra Entry

The entries which take place between bank and cash are termed as contra entries.

In contra entries, the deposited cash in the bank and cash withdrawal for office use from the bank, both the entries are posted in the cash book and letter C is written in Jf(Journal Folio) column so that these entries are not assigned to the ledger account further.

Explore more such questions and answers at BYJU’S.

Was this answer helpful?


0 (0)


Choose An Option That Best Describes Your Problem

Thank you. Your Feedback will Help us Serve you better.

Leave a Comment

Your Mobile number and Email id will not be published. Required fields are marked *




Free Class