QUESTIONS How many of the following accounts are contra asset accounts? - Accumulated Depreciation Expense - Discount on B/P - Allowance for Doubtful Accounts Expense - Purchase Returns & Allowances -Premium on B/P OC A. 3 B. 1 C. 4 OO D.2 E.5 QUESTION 9 The reason why allowance for doubtful accounts is offset against MR in the asset section of the balance sheet. A. Comparability OB. Matching C. Going Concern D. Revenue Recognition Click Save and Submit to save and submit. Click Save All Answers to save all answers