Question

Why is it important to balance a ledger account?

Answer 1

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.

Answer 2

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

Step-by-step explanation: