Why is it important to balance a ledger account?

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asked Mar 18, 2024 176k views

2 Answers

Alan Mimms · Answer 1 · 2024-03-19T14:33:10+0000

It serves as a check to ensure that for every transaction, a debit recorded in one ledger account has been matched with a credit in another. If the double entry has been carried out, the total of the debit balances should always equal the total of the credit balances.

DaveStephens · Answer 2 · 2024-03-23T20:05:14+0000

Answer:

balancing a ledger account is a crucial step in maintaining accurate financial records and ensuring that financial statements are reliable and trustworthy.

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Why is it important to balance a ledger account?

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