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An important control procedure involves the periodic reconciliation of general ledger accounts with their subsidiary ledgers. Explain how this control procedure works in the context
An important control procedure involves the periodic reconciliation of general ledger accounts with their subsidiary ledgers. Explain how this control procedure works in the context of accounts payable. Your answer should specify how to verify the accuracy, completeness, and validity of all entries involving purchases, purchase returns, purchase discounts, and cash disbursements.
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