For the purpose of bank reconciliation statement, only the bank column of the cash book is to be considered by the _________.
A
Cash
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B
Bank
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C
Cash and Bank
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D
Discount
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Solution
The correct option is B Bank Bank Reconciliation Statement is prepared to match balances of bank column of cash book and pass book. when payment received or paid by bank, it is recorded in bank column of cash book. Same transactions are recorded by bank in pass book. When reconciliation is done, bank balance shown by cash book and pass book is tallied. So, it is clear that only the bank column of cash book is considered.