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    Trial Balance

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    When is the trial balance prepared? Why would an organization prepare a trial balance? What does the trial balance tell you? What does the trial balance not tell you?

    © BrainMass Inc. brainmass.com December 15, 2020, 1:34 pm ad1c9bdddf
    https://brainmass.com/business/trial-balance/trial-balance-importance-financial-accounting-116080

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    In bookkeeping, the trial balance is a worksheet wherein all the balances of each ledger are entered in two columns, namely debit and credit. Trial balance is prepared in each financial period as a summary of the closing of the previous ledger. The total of the debit side should always be ...

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    The solution goes into details about trial balance and its importance in financial accounting.

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