Publisher's Synopsis
Excerpt from Encyclop�dia of Accounting, Vol. 8
It should be observed that in the foregoing form the entries are the period's aggregates of the items affecting the individual debtors' accounts; in other words, the form is a summary of the postings to the Customers' Ledger. What is at the Cr. In the foregoing form, however, would be found debited in the personal accounts, and vice versa. That being so, the balance at the Or. Of the above Adjustment Account must e ual the sum of the Dr. Balances on the individual personal accounts; the edger is thus self-balan cin g.
The same principles apply to the Creditors' or Bought Ledger.
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