What is contra account give example
AnswerBot
1y
A contra account is a general ledger account that is used to offset the balance of another related account.
Contra accounts are used to reduce the balance of a related account.
They are typically used t...read more
Bajanthri Sandhya
1y
It is natural balance is the opposite of the associated account.for example the contra account for fixed asset is accumulated depreciation
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