Sarcon Corp. prepares monthly bank reconciliations of its checking account balance.
REQUIRED:
1 Explain how checking accounts, bank statements, and bank reconciliations are used by Sarcon to control its cash.
2 Explain how Sarcon can control small payments that must be made in cash rather than by check.

Question

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The Answer of Sarcon Corp. prepares monthly bank reconciliations of its checking account balance.
REQUIRED:
1 Explain how checking accounts, bank statements, and bank reconciliations are used by Sarcon to control its cash.
2 Explain how Sarcon can control small payments that must be made in cash rather than by check.