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  3. a trial balance is not a formal financial statemen

A trial balance is not a formal financial statement but is rather one that is...

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Accounting

A trial balance is not a formal financial statement but is rather one that is used by accountants prior to creating the formal statements to ensure that its debits equal credits. We have learned about two trial balance-the unadjusted trial balance and the adjusted trial balance. Please explain the differences between the two and why we need both.

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