What is the purpose of using contra accounts? What is the alternative to using them?

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Financial Accounting an introduction to concepts, methods and uses

ISBN: 978-0324789003

13th Edition

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

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Question Posted: Dec 03, 2011 03:26 AM

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What is the purpose of using contra accounts? What is the alternative to using them?

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Contra accounts provide disaggregated information concerning the net amount of an asset lia...View the full answer

Financial Accounting an introduction to concepts, methods and uses

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