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What is trial balance?

Trial balance is the list of closing balances of ledger accounts on the certain date and is the first step toward  the preparation of financial statements. Ledger balances are segregated into debit balances and credit balances.

The debit balance amount are listed in column with the heading debit balances and the credit balances amounts are listed in another column with the heading credit balances. The total of each of these two columns should be identical.

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