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Glossary   >   C   >   "Contra Account" Definition            Contra Account An account on the balance sheet of a corporation or entity that offsets the balance of a related and corresponding account. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Contra Account - An account on the balance sheet of a corporation or entity that offsets the balance of a related and corresponding account.