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Cash Book and Subsidiary Books
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What do you mean by “balancing of accounts”?
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A
Difference in total of debit & credit side
💡 Explanation:
Balancing an account involves calculating the difference between the total debits and the total credits. This difference, known as the balance, is then entered on the side with the smaller total to make both sides equal. This process is essential for preparing the trial balance and financial statements.