what is self balancing system?
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heya folk!!
Self-balancing system is a systemwhereby separate Trial Balance can be taken out from each ledger. ... It is the reverse of the Total Debtors Account in Sales Ledger and Total Creditors Account in Bought Ledger. Under thissystem ledgers are made self-balancing by opening adjustment accounts.
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Self-balancing system is a systemwhereby separate Trial Balance can be taken out from each ledger. ... It is the reverse of the Total Debtors Account in Sales Ledger and Total Creditors Account in Bought Ledger. Under thissystem ledgers are made self-balancing by opening adjustment accounts.
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Self-balancing system is a system whereby separate Trial Balance can be taken out from each ledger. “General Ledger Adjustment Account” will be maintained in each of the sales and bought ledger. It is the reverse of the Total Debtors Account in Sales Ledger and Total Creditors Account in Bought Ledger.
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