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1. A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on

1. A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

Required: a) Discuss the reason of discrepancy between the cash book balance and the bank statement balance (350 words)

b) Summarize the process of reconcile a bank statement (350 words)

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