Overview

balance


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The amount representing the difference between the debit and credit sides of an account. It is included on the side of the lesser total, to ensure it equals the greater total. A balance is brought down on to the opposite side of the account. For example, if the total credits on an account exceed the total debits, a balance is inserted on the debit side and then brought down on to the credit side. See also trial balance.

Subjects: Accounting.


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