A double entry for a transaction that offsets one amount against another on both sides...
FINANCIAL
JAMB 2017
A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a
- A. original entry
- B. contra entry
- C. prime entry
- D. contract entry
Correct Answer: B. contra entry
Explanation
contra entry is used to offset amount or same transaction against another on both side of the cashbook
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