Contra entry is recorded in?

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asked Sep 11, 2021 102k views

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Frank Boucher · Answer 1 · 2021-09-15T22:48:24+0000

I hope this is correct! A contra entry is recorded when the debit and credit affect the same parent account and resulting in a net zero effect to the account. These are transactions that are recorded between cash and bank accounts

Contra entry is recorded in?

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