Question: What are the various internal control procedures with respect to cash receipts and payments? When preparing a bank reconciliation, what are the different adjustments that

What are the various internal control procedures with respect to cash receipts and payments?

When preparing a bank reconciliation, what are the different adjustments that affect the book and bank side?

Why do journal entries need to be prepared after completing the bank reconciliation?

Provide three example journal entries with a description of the adjustment.

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