Question 5 2.5 pts

The reversing entry for Salaries is:

debit Salaries Expense; credit Salaries Payable.

debit Salaries Payable; credit Income Summary.

debit Salaries Expense; credit Accounts Payable.

debit Salaries Payable; credit Salaries Expense.

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Question 6 2.5 pts

Reversing entries are done when assets or liabilities are increasing and have no previous balance.

True

False

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Question 7 2.5 pts

Reversing entries are the opposite of closing entries.

True

False

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Question 8 2.5 pts

Not all adjusting entries can be reversed.

True

False