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(100 words minimum) Explain why bank reconciliations are necessary to every business? Explain why the balances don't agree between the Bank Statement and the G/L

(100 words minimum)

  1. Explain why bank reconciliations are necessary to every business?
  2. Explain why the balances don't agree between the Bank Statement and the G/L Checking account.
  3. Explain if Journal Entries need to be done and specifically what is journalized.

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