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Prof. Bush had two accounts with Olive Brother agreed to have only one balance outstanding….

Prof. Bush had two accounts with Olive Brother agreed to have only one balance outstanding. By which of the following methods could this be effected?
  • A.
    Journal entry
  • B.
    double entry
  • C.
    suspense account entry
  • D.
    adjustment entry
  • E.
    contra entry
Correct Answer: Option E
Explanation