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Discuss the three common small-group networks. Evaluate each on their effectiveness. Is there any one best network?
Bank Reconciliation
Bank reconciliation is the process of matching and comparing the balances in an entity’s accounting records for a cash account to the corresponding information on a bank statement.
Deposits In Transit
Refers to cash and checks that have been received and recorded by an entity but have not yet been deposited in the bank account.
Bank Reconciliation
The process of matching and comparing figures from the accounting records against those presented on a bank statement to see if they are consistent.
Company Books
Official records maintained by a business documenting its financial transactions and activities.
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