A contra asset account has what type of balance? 1. Debit 2. Credit 3. Contra 4. All of the above

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What is the normal balance for contra asset accounts?
Posted by:
abdelaziz allam
11-February-2016

Financial Accounting Finance

Question added by Deleted user
Date Posted: 2015/08/10

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1 Answers

by Aqid Hussain , Internee , State Bank of Pakistan - Banking Services Corporation

The balance of the Contra Asset Account will be credit in all cases with few exceptions.

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