Bank reconciliation is the process of matching cash statement to the corresponding bank statement.The aim is to detect disparities in both balances and make the necessary adjustments.
At the end of the reconciliation process,adjusted cash and bank balances must be equal.Inequlity of these two statement means there are still figures that needs to be adjusted, hence,the accountant should do a thorough investigation to discover the reason for the inequality in both balances
Explanation: Credit card interest rate is at 36%. That’s on the new first premier credit card. The next highest credit card interest rate seems to be 29.99%
