Contra Account Definition + Journal Entry Examples
Typical revenue accounts carry a credit balance, while contra revenue accounts have a debit balance. For example, a sale credits revenue, but a sales return debits the contra revenue account, decreasing overall revenue. A contra asset account is a type of account in accounting that has https://www.howtomeasureringsize.net/accurate-ring-sizing-standard-measurement-techniques/ a natural credit balance and is used to […]
