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Evaluate using the formula from this section.? ?
Bank Reconciliation
The process of matching and comparing figures from the banking statements with the cash account records to ensure accuracy and consistency in financial records.
Petty Cash
A small amount of cash on hand used for covering minor expenses.
Petty Cash Fund
A small amount of cash kept on hand for making immediate payments for minor expenses.
Auxiliary Petty Cash Record
A supplementary record for summarizing petty cash information.
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