Offset by contra is accounted for by: (a) A debit in the Trade payables control and a

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Offset by contra is accounted for by:

(a) A debit in the Trade payables control and a credit in the Trade receivables control accounts

(b) A debit in the Trade receivables control and a credit in the Trade payable control accounts

(c) A combination of entries stated in (a) above as well as in (d) below

(d) A debit and a credit respectively in the account of the particular customer appearing in the Trade receivables and in the Trade payables ledger

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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