This is a question in my Finance class that needs to be answer with at least 140 words. If you donâ€™t use your own words please cite in text with reference. No Plagiarism.
Class, I want to throw another term out there as we begin to tie all of these concepts together. On the balance sheet, we have what is known as contra accounts. What is a contra account? What would be an example of a contra account that would relate to cash and why would it be important when analyzing cash flow?