ACC205 DISCUSSION 2(DO NOT CHANGE THE PRICE AND DO NOT SEND ME CHAT) MESSAGES ONLY

What is the purpose of a bank reconciliation?  What are the reasons for differences between the cash reported in the accounting records, and the cash balance in the bank statements? 

Analyze several of your peers’ posts.  Let at least two of your peers know what happens to the discrepancies between the book balance and the bank balance.  Could these differences just be written off?

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