What type of entry represents both a debit and credit for the same amount?

The type of entry that represents both a debit and a credit for the same amount is referred to as a contra entry. Contra entries are made to offset amounts in accounts, typically affecting one account in a positive direction while making a corresponding entry in another account that offsets that amount.

For example, if cash is withdrawn from a bank account and placed into a personal account, the amount would debited in one account and credited in another, reflecting the dual impact on both financial records. This mechanism is essential for maintaining balance in the accounting equation, where total debits always equal total credits in double-entry bookkeeping.

While adjusting entries relate to the allocation of income and expenses to different accounting periods, accrual entries involve recognizing revenue and expenses when they occur, regardless of cash flow. Fundamental entries isn't a standard term used in accounting practice. Thus, the characteristics and operations of contra entries clearly align with the requirement of this question.