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ABC Company purchased two inventory items. The first cost $ 5 0 and the second cost $ 6 0 . One of the items was

ABC Company purchased two inventory items. The first cost $

50

and the second cost $

60 .

One of the items was sold for $

75 .

The allowance for doubtful accounts is

?

a revenue account.

a liability account.

a contra asset account.

an expense.

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