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The closing date on your statement is crucial as it marks the end of the billing cycle for that period, determining the transactions and balances reflected in the statement. It helps you understand the timeframe for any charges, payments, or interest calculations and ensures you are aware of when your payment is due to avoid late fees. Additionally, knowing the closing date allows for better financial planning and tracking of your spending.

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2w ago

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Listed below are the actions one would take when reconciling a bank statement. Drag each action into the order in which it is performed?

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