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What is a Bank Reconciliation? What is the purpose of preparing a bank reconciliation? Which account is the main focus of a bank reconciliation? Why?

What is a Bank Reconciliation?

What is the purpose of preparing a bank reconciliation?

Which account is the main focus of a bank reconciliation? Why?

Explain the importance of monthly bank reconciliations.

Provide $2$ examples in which a business must make journal entries during a bank reconciliation.

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