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Accoounting rreconciliations

Bank recconciliiation statemmentss

Thee purpose of a bankk reconciliation statement is tto check tthe
acccuracy of aan organissation’s bank accouunt recordd by compparing
it wwith the reccord of thee accountt held by the bank.

The steeps requireed to perform a bank reconciliation are ass follows:

Stepp 2
 Tick off all  Preepare the bbank

items in BBOTH  Uppdate the ccash recconciliation
the cash bbook boook for un- withh the
and the baank ticcked items in remmaining un-
statementt. thee bank tickked items.
staatement.
Stepp 1 Step 3

Illuustrations aand furrther ppracticce

Noww try questiion TYU 1 from Chappter 15 of tthe Study TText.

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