Need accounting help with the meaning of contra entry

Accounting
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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.

 

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Dec 13th, 2015

Thanks so much, am really grateful

Dec 13th, 2015

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Dec 13th, 2015
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Dec 13th, 2015
Dec 5th, 2016
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