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Reversing entries: a. are necessary when journal entries have been incorrectly recorded. b. are a required step in the accounting cycle. c. will often result
Reversing entries:
a. are necessary when journal entries have been incorrectly recorded.
b. are a required step in the accounting cycle.
c. will often result temporarily in abnormal account balances in some accounts.
d. are required only if the company uses accounting software to record journal entries.
e. must be made before preparing the post closing trial balance
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