Reversing Entries Explained via Examples Accounting Cycle
These entries are optional depending on whether or not there are adjusting journal entries that need to be reversed. To keep your accounting records clean, you record a reversing entry on the first of the next month that turns your liability back to $0. Then, when the bill comes in for $9,500, you record a new journal […]
Reversing Entries Explained via Examples Accounting Cycle
These entries are optional depending on whether or not there are adjusting journal entries that need to be reversed. To keep your accounting records clean, you record a reversing entry on the first of the next month that turns your liability back to $0. Then, when the bill comes in for $9,500, you record a new journal […]