diff --git a/hledger/Hledger/Cli/Balance.hs b/hledger/Hledger/Cli/Balance.hs
index e7d76b074..584e6c9d7 100644
--- a/hledger/Hledger/Cli/Balance.hs
+++ b/hledger/Hledger/Cli/Balance.hs
@@ -147,7 +147,11 @@ This implementation turned out to be a bit convoluted but implements the followi
 -- | Render one balance report line item as plain text.
 accountsReportItemAsText :: ReportOpts -> [FormatString] -> AccountsReportItem -> [String]
 accountsReportItemAsText opts format (_, accountName, depth, Mixed amounts) =
-    case amounts of
+    -- 'amounts' could contain several quantities of the same commodity with different price.
+    -- In order to combine them into single value (which is expected) we take the first price and
+    -- use it for the whole mixed amount. This could be suboptimal. XXX
+    let Mixed normAmounts = normaliseMixedAmount (Mixed amounts) in
+    case normAmounts of
       [] -> []
       [a] -> [formatAccountsReportItem opts (Just accountName) depth a format]
       (as) -> multiline as
diff --git a/tests/balancing-with-prices.test b/tests/balancing-with-prices.test
index 4a76d6293..0a0cdc3a5 100644
--- a/tests/balancing-with-prices.test
+++ b/tests/balancing-with-prices.test
@@ -1,4 +1,4 @@
-# this should balance
+# 1. this should balance
 bin/hledger -f - print
 <<<
 2011/1/1
@@ -7,3 +7,21 @@ bin/hledger -f - print
     c  $-30
 >>>2 !/could not balance/
 >>>= 0
+# 2. When commodity price is specified for the whole transaction, it should still be reported
+# in the balance as a single quantity even when prices change over time
+bin/hledger -f - balance
+<<<
+2011/01/01 conv1
+  expenses   10£ @@ 16$
+  cash       -16$
+
+2011/01/02 conv2
+  expenses   10£ @@ 15$
+  cash       -15$
+>>>
+                -31$  cash
+                 20£  expenses
+--------------------
+                -31$
+                 20£
+>>>=0