Need accounting help with the meaning of contra entry

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meaning of contra entry

Dec 13th, 2015

Thank you for the opportunity to help you with your question!

Contra Entry refers to an entry that is recorded in order to reverse or offset the entry on the other account. When a debit entry has been recorded in a account then the contra entry will be made on the credit and the opposite is also true.

 

Please let me know if you need any clarification. I'm always happy to answer your questions.
Dec 13th, 2015

Thanks so much, am really grateful

Dec 13th, 2015

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Dec 13th, 2015
Oct 23rd, 2017
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