The matchup are:
Balancing check register has:
- Interest earned.
- Deposit in transit.
Balancing statement account has:
What is bank reconciliation?
Bank Reconciliation is known to be a process in accounting where firms are said to match their bank statements to their various transactions that are known to be recorded in their general ledger.
A statement of account is known to be one that list all the financial transactions that took place when two or businesses make different transaction over a period of time.
Note that Balancing your checkbook is a way of verifying that the records you have matches with that of the bank's.
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