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Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2010 Can any one tell me when contra entry will be passed.Give an example

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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24 May 2010 When your accounts are effected from cash and bank or bank and bank then it is called contra entry !!

EX.- CASH WITHDRAWAL FROM BANK? 5000/-

Cash A/c Dr. 5000/-
To Bank A/c 5000/-

(Being Cash Withdrawals from Bank)

Ex.2- cheque issue to pnb bank 5000

Pnb bank a/c dr 5000/-

To Bank A/c 5000/-

(Being the cheque issue to PNB Bank)

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