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In balance sheet ,why assets are recorded in credit side and liabilities are recorded in debit side ,although both have opposite balance of Dr and cr ?
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Balance sheet is not a ledger Account..
In Ledger A/c we have on left side Debited items & on Right side Credited items.
In Balance Sheet (Horizontal format) on left side we have Liabilities which generally have Credit balance & on right side we have Assets having Debit balance.
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