The reversing entry flips the adjustment on the first day of a new fiscal period. Thus the

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The reversing entry “flips” the adjustment on the first day of a new fiscal period. Thus the bookkeeper need not look back at what happened in the old year when recording the current year’s transactions.

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College Accounting A Practical Approach Chapters 1-26

ISBN: 9780130911421

8th Edition

Authors: Jeffrey Slater

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Question Posted: Jul 01, 2024 03:03 AM

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The reversing entry flips the adjustment on the first day of a new fiscal period. Thus the

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College Accounting A Practical Approach Chapters 1-26

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