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11 July, 19:22

Why would transactions completed on the last day of the month be "outstanding" on the blank statement?

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  1. 11 July, 20:55
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    I believe the answer is: Not enough time to go through the bank system

    Bank statement is created by the end of the month. When a transaction is completed on the last day, the record of the transaction might be recorded on the bank statement for the next month, To correct the imbalance, we just need to conduct a bank reconciliation.
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