Multiple choice

Which of the following is not a contra entry?

  1. Encashed a cheque

  2. Paid into bank cash from office

  3. Withdrew from bank for office use

  4. Paid into bank cash from personal sources
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Paid cash from personal sources is capital contribution and is not a contra entry. All others are contra entries. Contra entries are those which are debited and credited with cash/bank account only.

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