Question

Bank Reconciliation statement​

Answer 1

Answer:

Bank reconciliation statements ensure payments have been processed and cash collections have been deposited into the bank. The reconciliation statement helps identify differences between the bank balance and book balance, in order to process necessary adjustments or corrections.

Answer 2

Answer:

A bank reconciliation statement is a summary of banking and business activity that reconciles an entity's back account with its financial records. the statement outlines the deposit, withdrawals and other activities affecting a bank account for a specific period.

Explanation:

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