Featured image of post Contra Asset Meaning : These accounts keep track of factors that reduce the a contra asset account is paired with an asset and reduces its value.
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Contra Asset Meaning : These accounts keep track of factors that reduce the a contra asset account is paired with an asset and reduces its value.

The accounting rules applicable to contra asset.

Contra Asset Meaning / Allowance for uncollectible accounts is a contra asset account, which means that its normal balance is a credit.

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