American Heritage® Dictionary of the English Language, Fourth Edition
- n. A statement of all the open debit and credit items in a double-entry ledger, made to test their equality.
- n. A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits should equal the total of the credits any difference indicates that an error has been made.
GNU Webster's 1913
- (Bookkeeping) The testing of a ledger to discover whether the debits and credits balance, by finding whether the sum of the personal credits increased by the difference between the debit and credit sums in the merchandise and other impersonal accounts equals the sum of personal debits. The equality would not show that the items were all correctly posted.
- n. a balance of debits and credits in double-entry bookkeeping; drawn up to test their equality
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