The final step in reconciling the bank's cash balance and the company's cash balance is to update the company's cash balance for the items used to reconcile the bank's cash balance.The cash balance needs to be updated for items used to reconcile the company's cash balance.

Question

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The final step in reconciling the bank's cash balance and the company's cash balance involves updating the company's cash records for items identified during the reconciliation process that have not yet been recorded by the company, not for items used to reconcile the bank's cash balance.

The Final Step in Reconciling the Bank's Cash Balance and the Company's