Meaning of “contra account” in the English Dictionary

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"contra account" in Business English

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contra accountnoun [ C ]

uk us

ACCOUNTING in a company's double-entry bookkeeping, an account relating to a business that supplies goods, etc. to the company as well as being a customer. The account shows the total that is owed to or by that business at a particular time.

(Definition of “contra account” from the Cambridge Business English Dictionary © Cambridge University Press)