Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 18)
If a customer is also a supplier (i.e., a contra account), which accounts are affected?
Only the sales ledger.
Only the purchases ledger.
Both the sales and purchases ledgers.
Neither ledger.
Explanation
Contra entries involve transactions where a customer is also a supplier and will be recorded in both ledgers
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