A Ledger is a book where journal entries are posted into individual ledger accounts in a chronological order. A ledger account is maintained to calculate the account balances at the end of every month and to summarize the financial information from the journal. Any ledger account will have two sides to represent debit and credit balances. If the debit side exceeds the credit side, it indicates a debit balance. Whereas, if the credit side exceeds the debit side, it indicates a credit balance.
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