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Show transcribed image text Explain the purpose of the following audit procedures: a. Sending a bank confirmation to all the banks with which the company does business. b. Obtaining a bank cutoff statement. c. Preparing an interbank transfer statement.

Explain the purpose of the following audit procedures: a. Sending a bank confirmation to all the banks with which the company does business. b. Obtaining a bank cutoff statement. c. Preparing an interbank transfer statement.

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