A. Debit entry
A. Contra entry
C. Credit entry
D. Reversal entry
Correct Answer:
Option A – Debit entry
Explanation
A contra entry is an entry which is recorded to reverse or offset an entry on the other side of an account
When cash is remitted from the branch
Dr Bank account
Cr Branch account
Or
Dr Remittance from bank
Cr Remittance from branch
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