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If Microchip's accountant employed reversing entries for accruals, prepare the adfusting entries at the end of 2021 for only those entries that would be reversed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) If Microchip's accountant employed reversing entries for accruals, prepare the adfusting entries at the end of 2021 for only those entries that would be reversed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)