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What is bank reconcilation a/c
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Answer Posted / prem
Bank reconciliation is matching of bank statement and firm's bank balance.
Ex.-- If bank statement bal. Is 49000/-(dr.)In 31st march and if our check given in 31st march rs. 7000/- to any party so our balance should be 56000/- in our account as on 31st march,because 31st march dated check will be cleared in aprl.
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