The Allowance for Uncollectible Accounts is a contra asset account representing the amount of accounts receivable that we do not expect to collect.

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The Allowance for Uncollectible Accounts is indeed a contra asset account that represents the estimated amount of accounts receivable that a company does not expect to collect. This amount is subtracted from the total accounts receivable to give a net amount that is considered to be more accurate for financial reporting purposes.

The Allowance for Uncollectible Accounts Is a Contra Asset Account