A(n)________ is a contra asset account.

Name: A(n)________ is a contra asset account.
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The allowance for loan and lease losses is a contra asset account that is used to adjust the balance of a bank's loans and leases to their estimated collectible amounts. It reflects the estimated amount of loans and leases that are likely to be uncollectible, and is subtracted from the total amount of loans and leases to arrive at the net amount of loans and leases that the bank expects to collect.

A(n)________ Is a Contra Asset Account