The total dollar value of all debits and credits recorded in a journal entry must be equal.

Name: The total dollar value of all debits and credits recorded in a journal entry must be equal.
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Quizplus · Accepted Answer

This is known as the fundamental accounting equation and is based on the principle of double-entry bookkeeping, where every transaction has equal debits and credits. This ensures that the accounting records remain balanced and accurate.

The Total Dollar Value of All Debits and Credits Recorded