Section 441.40 - Balance

441.40 Balance. (a) The difference between the total debits and the total credits of an account, or the total of an account containing only debits or credits.

(b) The equality of the total debit balances and the total credit balances of the accounts in a ledger.

(c) Agreement of the total of the account balances in a subsidiary ledger with its general-ledger control.
 

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