With respect to the concept of Bank Reconciliation Statement (BRS), which of the following statements is correct?
1. BRS is the process of reconciling cash column of the cash book and bank column of the cash book.
2. There are 3 types of differences between the cash and pass book, namely timing, transactions and errors.
3. Overcasting of the debit side of the cash book is an example of a difference that is due to timing.
4. Debit balance in the cash book is same as overdraft as per the pass book.