Question: Describe two advantages of performing reconciliations of the cash account
Describe two advantages of performing reconciliations of the cash account to the balances on the bank statements.
Answer to relevant QuestionsDescribe the potential sources of difference between a cash account and its associated bank statement balance. Why do companies invest their cash in short-term investments? What are strategic risks? Pyramid Corporation is assessed a $20 fee as the result of a $185 NSF check received from a customer for services purchased on account. Neither the fee nor the NSF check has been accounted for on Pyramid’s ...Edward Thompson, a longtime employee of a small grocery wholesaler, is responsible for maintaining the company’s cash records and for opening the daily mail, through which the company receives about 40 percent of its daily ...
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