Deposit with Mr. XYZ will be shown on the ___ side of trial balance
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Debit side
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Deposit with Mr. XYZ will be shown on the Debit side of the trial balance.
Trial Balance is a statement summing up the end closing balance of every ledger account, created with the view to check the arithmetical precision of the posting of the ledger. In the Trial balance, all the balances are posted either on the credit side or the debit side of the main statement. The total debit and credit balance should coordinate with each other, only then it will be arithmetically correct.
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