What is a contra account with respect to receivables account ?

A contra account is an account found in an account ledger that is used to reduce that value of a related account. Items recorded in the contra account are specifically designed to offset other transactions, and are recorded as the opposite type of entry. If a debit is recorded in a related account, the contra account record will be a credit.

Examples of contra accounts include Allowance for Uncollectibles, a contra account to Accounts Receivable

A contra accounts is a ledger account it's recorded assets account to have a credit balance instead of debit balance normally found in the an asset account, for example cash deposited in to the bank. The use of Contra account is a receivable account for allowances of doubt full account it is associated with an assets account receivable account. For example if account receivable debit balance 100, then net reliasable value is 98, the net amount will be reported and the amount use of Contra that about turning in to cash.