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Provision for doubtful debts account is a an

This question belongs to Commerce Accounting
Accounting
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Provision for doubtful debts account is a/an

Answer & Solution
Correct Answer: Option B
Provision for doubtful debts account is an Contra asset account. It is used along with the account Accounts Receivable in order for the balance sheet to report the net realizable value of the company's accounts receivable.
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