Use the following information to answer questions.
-The total amount in the contra asset accounts is
A) $ 37,500.
B) $ 108,000.
C) $70,500.
D) $252,000.

Question

Use the following information to answer questions. 
-The total amount in the contra asset accounts is
A) $ 37,500. 
B) $ 108,000. 
C) $70,500. 
D) $252,000.

Quizplus · Accepted Answer

The total amount in the contra asset accounts is $108,000. Contra asset accounts are used to reduce the value of related asset accounts, and the given option B matches the total amount specified.

Use the Following Information to Answer Questions