Assertion: total debit | /r/HasProperty | equal
Facets:
value: to the total credits
type: OTHER
value: to balance
type: OTHER
value: in order
type: OTHER
value: for all transactions
type: OTHER
Source sentences:
text: In order for a journal entry in the account ledger to be valid, the total debits must be equal to the total credits.
text: You can tell that this is a valid journal entry because the total debits ($500 debited from the Bank Account on the left-hand side) are equal to the total credits ($500 credited to the Owner Equity account on the right-hand side).
text: This second journal entry is a valid entry because the total debits ($100 debited from the Office Supplies Expense account on the left-hand side) are equal to the total credits ($100 credited to the Bank Account on the right-hand side).
text: When the trial balance is drawn up, the total debits must be equal to the total credits across the company as a whole (see below for a sample trial balance).
text: Every transaction produces both debit entries and credit entries for each party involved, where each party's total debits and total credits for the same transaction are equal.
text: For all transactions, the total debits must be equal to the total credits and therefore balance.