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    Bank statement, chart of accounts

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    Why does your bank statement show a credit for an increase in your cash balance?
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    Is the chart of accounts the same for every organization? If not, why not and "should it be?"

    © BrainMass Inc. brainmass.com June 3, 2020, 5:11 pm ad1c9bdddf
    https://brainmass.com/business/auditing/bank-statement-chart-of-accounts-16918

    Solution Preview

    An increase in your cash balance is actually a liability for the bank, and hence the credit for every increase. From the bank's perspective, the more you save, the more the ...

    $2.19

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