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27- Which of the following statements about the allowance for Doubtful Accounts is true? A-It is a contra Asset account with a credit balance. B-it

27- Which of the following statements about the allowance for Doubtful Accounts is true?

A-It is a contra Asset account with a credit balance.

B-it is a contra Liability account with a credit balance.

C-it is a liability account with a debit balance.

D-it is an expense account with a debit balance.

It is a liability account with a credit Balance.

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