A double entry for a transaction that offsets one amount against another on both sides…

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Accounts - Principles of Accounts JAMB 2017

A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a

  • original entry
  • contra entry checkmark
  • prime entry
  • contract entry

The correct answer is: B

Explanation

contra entry is used to offset amount or same transaction against another on both side of the cashbook
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