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Home Accounting Dictionary Letter T Trial Balance Definition
 
 

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Trial Balance Definition:

A list of account titles and their balances in the ledger, on a specific date, shown in debit and credit columns.

All the items recorded in all the accounts on the debit side should equal in total all the items recorded on the credit side of the accounts. We need to check that for each debit entry there is also an equal credit entry. Trial balance is prepared to achieve this purpose.

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