Thank you for the opportunity to help you with your question!
Contra entry refers to process in accounting whereby
two entries are captured either to offset or reverse an entry on the either
side of the account. For example, if a debit entry is recorded in an account, a
contra entry will be recorded on the credit side and vice-versa.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Dec 13th, 2015
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