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

Financial Accounting Finance
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Date Posted: 2015/08/10
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Aqid Hussain
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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