Which of the following is recorded as contra entry?
A. Withdrew cash from bank for personal use
B. Withdrew cash from bank for office use
C. Direct payment by the customer in the bank account of the business
D. When bank charges interest
Answer:B
Which of the following is recorded as contra entry?
A. Withdrew cash from bank for personal use B. Withdrew cash from bank for office use C. Direct payment by the customer in the bank account of the business D. When bank charges interest