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- Interest: Average Daily Balance
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it is called a 'balance' sheet because the amount of assets should equal (or 'balance') the sum of the liabilities and owner's e
your trial balance will not in fact balance.Solution: Here's a quick way to find out if this is the problem. One of your column
then making sure that the sum of all debits equals the sum of all credits -- that the two amounts balance. The trial balance is
you have to fix the unbalanced trial balance before you go on to the rest of the accounting cycle. (If they do balance you could
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