WAEC Financial Accounting 2005 Question 35

Question 35

Cash Book

When both debit and credit entries of a transaction are shown in the cash book, it is described as

  1. A.contra entry
  2. B.reversal entry
  3. C.double entry
  4. D.single entry.
Show the answer and explanation

Answer: A (contra entry)

Explanation

Entries on both sides of the cash book are contra entries.