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  • The process of transferring the transaction from ‘journal’ to ‘ledger’ is called “Posting.”
  • Ledger is known as the book of final entry.
  • Personal accounts and real accounts are balanced.
  • Any excess of debits over credits represents capital balance.
  • Debit balance – If debit side is greater than credit side
  • Credit balance – If credit side is greater than debit side
  • Nominal accounts are not balanced. They are transferred to Profit and Loss Account at the end of the year.

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