Bello withdraws cash from bank to office, this is called ...
Bello withdraws cash from bank to office, this is called ---------- entry
Credit
Contra
Double
Debit
Correct answer is B
Contra entry is an entry which is recorded to reverse or offset an entry on the other side of an account. If a debit entry is recorded in an account, it will be recorded on the credit side and vice-versa.
\(\begin{array}{c|c} & N \\ \hline Sales & 200,000 \\ \text{Opening Stock} & 20,000 \\ p...
When a bill is negotiated to a bank, it is said be? ...
Which of the following is not an accounting concept? ...
Other operating expenses for the period is ...
Payment for shares in installments is done by means of ...
Kudi Local Government Council incurred the following expenditure in 1995: N Payment of salar...