Contra asset account is the accounts with a balance that is shown on the �wrong� side of the balance sheet as a reduction of a related account; for example; allowance for bad debts shown as a reduction of accounts receivable.
Contra asset account is the accounts with a balance that is shown on the �wrong� side of the balance sheet as a reduction of a related account; for example; allowance for bad debts shown as a reduction of accounts receivable.
